Kalshi Issues First Permanent Ban Against Former Congressman George Santos

Prediction market platform Kalshi has permanently banned former U.S. Representative George Santos, marking the first such action in the platform's history. The compliance department determined that Santos engaged in market manipulation regarding State of the Union (SOTU) event contracts by making public statements about his attendance that caused significant price volatility. Santos was fined over $71,000. This follows a separate settlement with the Commodity Futures Trading Commission (CFTC), where Santos paid $35,000 without admitting or denying allegatio