Prediction Market Kalshi Issues Lifetime Ban to Corrupt Ex-Congressman George Santos
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Kalshi permanently banned disgraced former New York Representative George Santos, a symbol of political corruption, after he refused to cooperate with their investigation into unethical trades linked to the 2026 State of the Union address. The platform also imposed a substantial monetary penalty.
Kalshi, a U.S. prediction-market platform, has taken decisive action against former New York congressman George Santos, issuing a lifetime ban after he failed to cooperate with the company's compliance inquiry. The investigation centered on trades Santos placed that generated nearly $18,000 in profit, tied to his own attendance at the 2026 State of the Union address—a clear abuse of insider knowledge for personal gain. In addition to the ban, Kalshi imposed a $71,356 penalty on Santos, as detailed in a public filing.
Santos, who was expelled from the House of Representatives in 2023 amid rampant fraud and campaign-finance violations, had already settled a federal probe into these same trades by paying $35,000. The Commodity Futures Trading Commission also barred him from trading for three years, citing his manipulation of a contract titled “Who will attend the State of the Union?”—a blatant conflict of interest and example of the corrupt elite gaming the system.
Kalshi reported that Santos continued to place bets related to his attendance and made public statements to manipulate the contract’s price, shamelessly violating the platform’s rules and further eroding trust in our democratic institutions.