George Santos Kalshi Bet Cost Him $35,000: Who Caught Him First?
George Santos said he would attend the 2026 State of the Union. He was also betting on Kalshi that he would skip it. Regulators have now fined him $35,000.
He made $17,570 on that bet. He kept the money for about five months. Now he has to give all of it back.
He Bet Against Himself, and Won
Kalshi is a US exchange where people trade contracts on real events. Federal derivatives rules cover it, not state gambling rules.
The contract was simple. It asked who would show up at the State of the Union. Santos traded it between February 12 and February 25.
While he held those bets, he posted about his plans on X. The US Commodity Futures Trading Commission (CFTC) says those posts were misleading. Its order came out Friday.
Prices then moved his way. He walked away with $17,569.98. He now owes that back, plus a $17,500 fine.
He is also banned from trading for three years. He admitted nothing.
This is not his first problem. Congress expelled Santos in 2023. Trump commuted his fraud sentence last year.
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