Kalshi bans ex-congressman George Santos for life after suspicious trades
Summary
Kalshi has permanently banned George Santos from its trading platform after he did not cooperate with an investigation into suspicious trades. Santos was fined over $71,000 and previously agreed to pay $35,000 to settle a federal probe into his trades, which were related to his attendance at the 2026 State of the Union address.Key Facts
- George Santos was banned for life from Kalshi’s prediction market.
- Kalshi’s compliance team was investigating trades that earned Santos about $18,000 in profits.
- Santos did not cooperate with Kalshi’s investigation.
- Kalshi fined Santos $71,356, as shown in a company filing.
- Santos is a former representative of New York’s 3rd District and was expelled from Congress in 2023.
- He faced charges for fraud and campaign finance violations.
- In July, Santos paid $35,000 to settle a federal investigation into his trades on Kalshi.
- The Commodity Futures Trading Commission also banned him from trading for three years.
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