George Santos pays $35,000 in Kalshi trading settlement
What's new: The deal includes a three-year trading ban, and Kalshi plans its own action to try to reimburse affected traders.
Former Rep. George Santos agreed to pay $35,000 to settle a federal investigation into trades he made on prediction market Kalshi tied to whether he would attend President Donald Trump’s State of the Union address. The Commodity Futures Trading Commission said the settlement covers more than $17,000 in profits and a $17,500 penalty, and bars Santos from trading for three years. Kalshi, which referred the matter to regulators, said it will pursue its own enforcement case and seek to reimburse traders if it recovers money. Santos did not admit wrongdoing. The New York Republican had publicly discussed attending the February speech, then posted during the event that travel problems kept him away.