Prediction market exchange Kalshi issued its first-ever lifetime ban to former U.S. Representative George Santos on August 31, 2026, and fined him over $71,000 for allegedly attempting to manipulate the market and participating in insider trading.
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The former US representative was also fined more than $71,000 for allegedly attempting to manipulate the prediction market.
Former Republican Representative George Santos has hit back after receiving a lifetime ban on prediction market platform Kalshi. On Monday, Kalshi said it had permanently barred Santos from its platform and imposed a $71,356 penalty following a Commodity Futures Trading Commission (CFTC) case tied to trades on his own attendance at President Donald Trump's State of the Union address. Regulators al
The prediction-market exchange said it established “reasonable cause to believe” that Santos participated in insider trading.