Kalshi Permanently Bans Former Congressman George Santos for Market Manipulation

Prediction market platform Kalshi has issued a permanent ban and a $71,356 fine against former U.S. Representative George Santos. The disciplinary action follows an investigation revealing that Santos manipulated a market regarding his own attendance at the State of the Union address, netting $17,839.57 in illicit profits. Kalshi's compliance department determined that Santos violated multiple rules, including market manipulation and the use of deceptive practices, by issuing misleading public statements to influence contract prices. This incident marks the