Kalshi Issues First Lifetime Ban After George Santos Manipulation Case
TLDR
- Kalshi issued its first ever lifetime trading ban against former U.S. Representative George Santos
- Santos made $17,839.57 by trading contracts tied to his own State of the Union attendance
- He posted misleading statements on social media to move contract prices in his favor
- Kalshi fined him $71,356, four times his profits, and he must not access the platform directly or through others
- The CFTC separately ordered Santos to pay over $35,000 and banned him from federally registered trading venues for three years
Prediction market platform Kalshi has permanently banned former U.S. Representative George Santos following a manipulation investigation tied to contracts based on his attendance at President Donald Trump’s 2026 State of the Union address.
Kalshi Issues First-Ever Lifetime Trading Ban to Former U.S. Rep. George Santos for Market Manipulation
Kalshi has permanently banned former U.S. Representative George Santos from trading on the platform and fined him more than $70,000, marking its first lifetime trading ban.… pic.twitter.com/yhxKDKWNJB
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