George Santos Issues Statement on Insider Trading Allegation: Read in Full
Summary
George Santos, a former Republican representative, denied insider trading allegations after a prediction market reported suspicious bets linked to his attendance at President Donald Trump’s 2026 State of the Union address. Santos said he learned about the investigation from news reports and is cooperating with officials while asking the media to stop contacting him.Key Facts
- George Santos was accused of insider trading involving bets about whether he would attend President Trump’s State of the Union address in February 2026.
- The prediction market platform Kalshi alerted federal authorities after noticing unusual betting patterns about Santos’ attendance.
- Federal prosecutors and regulators are investigating if Santos used private information to make profitable bets.
- Santos publicly said he would attend the speech but allegedly placed bets that he would not.
- Santos denies the allegations and calls them baseless, committing to cooperating with any investigation.
- He was informed about the possible investigation through an NPR report and is now in contact with the Department of Justice.
- Santos was arrested in 2023 for crimes including wire fraud and financial misconduct related to his congressional campaigns.
- He pleaded guilty in 2024 and was sentenced to over seven years in prison, but he has not been pardoned by President Donald Trump.
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