Santos hit with penalties and Kalshi ban over Trump SOTU bets
TL;DR
Federal regulators fined former Rep. George Santos more than $35,000 and banned him from Kalshi for three years after finding he profited from trades tied to President Trump’s State of the Union address; Santos placed bets on whether he would attend the speech and later said he would miss it, prompting the CFTC investigation and settlement that resolved the allegations without admitting wrongdoing.
- George Santos fined, temporarily banned from Kalshi prediction market MS NOW
- George Santos accused of ‘manipulative activity’ in prediction market trades The Washington Post
- George Santos Fined Over Bets on State of the Union on Prediction Market The New York Times
- The CFTC orders ex-GOP Rep. George Santos to pay $35,000 over trades on Kalshi CNBC
- George Santos agrees to $35,000 settlement in federal probe over Kalshi trades NBC News
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