George Santos reportedly investigated by DoJ over suspicious Kalshi bets
Summary
Federal officials are investigating whether Congressman George Santos used inside information to place a bet on an online prediction market about attending President Trump’s State of the Union address. The Commodity Futures Trading Commission and the Department of Justice are looking into the case after the betting platform Kalshi reported the suspicious trade.Key Facts
- George Santos allegedly placed a bet on Kalshi predicting if he would attend the State of the Union address in February.
- Santos had posted on social media that he planned to attend but later said travel issues stopped him.
- Kalshi flagged the bet to the Commodity Futures Trading Commission (CFTC).
- The Department of Justice (DoJ) is investigating Santos for potential insider trading.
- Kalshi and another betting platform, Polymarket, have faced lawmaker scrutiny over insider trading concerns.
- Santos was expelled from Congress in December 2023 for ethics violations involving misuse of campaign funds.
- In April 2025, Santos was sentenced to seven years in prison for wire fraud and identity theft but had his sentence commuted by President Trump.
- Santos did not confirm or deny having a Kalshi account and criticized the news reports on social media.
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