George Santos Bet on Whether He'd Show Up to the State of the Union—Kalshi Just Banned Him for Life
Kalshi permanently banned former Rep. George Santos after finding he manipulated a market tied to whether he would attend the State of the Union. According to a disciplinary notice, he placed large trades in February in a market he was not allowed to trade because he could influence the outcome. Kalshi said Santos then made false or misleading public statements about his attendance to move the “Yes” and “No” prices, and that he profited $17,839.57 from the scheme. The exchange said this violated rules against manipulation, trading with influence over an outcome, and deceptive conduct, and also cited his failure to cooperate with the investigation. Kalshi imposed a $71,356 penalty and said the ban is its first lifetime suspension of a former member of Congress.
