Kalshi bars George Santos for life, fines him $71,356 over bets
What's new: The platform said Santos made $17,839 trading on whether he would attend President Donald Trump's State of the Union.
Kalshi permanently barred former U.S. Rep. George Santos from its prediction market platform and imposed a $71,356 penalty after finding he likely traded on inside information tied to his own attendance at President Donald Trump's State of the Union address. The company said Santos was prohibited from betting on that market because he could influence the outcome, yet placed large trades from Feb. 2 to Feb. 25 and then made public comments that affected pricing. Kalshi said some statements about his plans to attend were false or misleading. The platform said Santos made $17,839 on the trades. In July, the Commodity Futures Trading Commission separately fined him $35,000 and banned him from trading for three years.