Santos settles CFTC charges over prediction-market trades for $35K
TL;DR
Former Rep. George Santos agreed to pay $35,000 to settle Commodity Futures Trading Commission charges alleging manipulative activity in Kalshi prediction-market bets about his State of the Union attendance, including $17,500 in profits he will surrender and a three-year trading ban; Santos was expelled from Congress in 2023 and later had his prison sentence commuted by President Trump.
Topics:businesspolitics#commodity-futures-trading-commission#fraud#george-santos-politician#legal-proceedings#political-corruption#politics
- 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
- George Santos agrees to $35,000 settlement in federal probe over Kalshi trades NBC News
- The CFTC orders ex-GOP Rep. George Santos to pay $35,000 over trades on Kalshi cnbc.com
- George Santos fined and banned over Kalshi prediction market trades Axios
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