{"id":2652406,"date":"2026-08-31T15:12:59","date_gmt":"2026-08-31T19:12:59","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kalshi-bans-george-santos-for-life-after-insider-trading-investigation\/"},"modified":"2026-08-31T15:19:10","modified_gmt":"2026-08-31T19:19:10","slug":"kalshi-bans-george-santos-for-life-after-insider-trading-investigation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kalshi-bans-george-santos-for-life-after-insider-trading-investigation\/","title":{"rendered":"Kalshi bans George Santos for life after insider trading investigation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fkalshi-bans-george-santos-for-life-after-insider-trading-investigation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2652406&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Teh prediction market company Kalshi permanently banned former Republican Rep. George Santos and fined him $71,356 after determining he manipulated contracts related to his attendance at President Trump&#8217;s 2026 State of the Union address. Santos allegedly placed wagers predicting his attendance and made public statements to influence the market, earning nearly $18,000 from these trades. Kalshi cited Santos&#8217;s failure to cooperate with its inquiry as the reason for the lifetime ban, which is the first in the company&#8217;s history. Santos claimed he was given a 30-day notice for the investigation, criticizing the company for violating its own deadlines. Leading up to the speech, santos discussed his plans to attend but later posted that he would watch from an airport, suggesting he would miss it. The Commodity Futures Trading Commission (CFTC) investigated Santos, ordering him to surrender trading profits and pay a civil penalty, and banning him from prediction markets for three years, which Santos settled without admitting wrongdoing. Santos had previously dismissed allegations on his podcast, claiming the markets were fragile. He was expelled from Congress in December 2023 for fabricating his background and misusing campaign funds, later pleaded guilty to wire fraud and identity theft, and was sentenced to over seven years in prison-though President Trump commuted his sentence in October 2025.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<article class=\"fn-body\">\n<p class=\"wp-block-paragraph\">Prediction market company Kalshi permanently banned former <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/republican\/\" data-type=\"post_tag\" data-id=\"926\">Republican<\/a> Rep. <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/george-santos\/\" data-type=\"post_tag\" data-id=\"2676\">George Santos<\/a> from its platform Monday and imposed a $71,356 penalty after determining that he manipulated contracts tied to his own attendance at President<a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\/\" data-type=\"post_tag\" data-id=\"4\"> Donald Trump\u2019s<\/a> 2026 <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/state-of-the-union\/\" data-type=\"post_tag\" data-id=\"658\">State of the Union<\/a> address.<\/p>\n<p class=\"wp-block-paragraph\">Kalshi alleged that Santos placed a series of wagers on whether he would attend the address and then made public statements about his plans to influence the price of the contracts. The trades ultimately netted Santos nearly $18,000, <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/kalshi-public-docs.s3.amazonaws.com\/regulatory\/notices\/KDA-2026-0006%20Santos%20Notice%20of%20Disciplinary%20Action.docx.pdf\">according<\/a> to Kalshi and the Commodity Futures Trading Commission, the federal regulatory body overseeing prediction markets.<\/p>\n<section class=\"explore-more-section\" id=\"wex-recommended-widget\">\n<div class=\"magazine-container single\">\n<h1 class=\"magazine-title mt-2\">Recommended Stories<\/h1>\n<p>             <i class=\"fa-solid fa-play icon\"><\/i>         <\/div>\n<div class=\"explore-grid\">\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/crime\/4706320\/kalshi-bans-george-santos-for-life\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Kalshi bans George Santos for life over State of the Union price manipulations<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/crime\/4705458\/police-officer-killed-shooting-south-carolina\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Police officer killed in shooting at South Carolina park<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/crime\/4704688\/woman-indicted-world-war-ii-memorial-vandalism-clean-hands-dirty-money-soap\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Woman indicted for allegedly vandalizing World War II Memorial<\/h3>\n<p>                         <\/a>                     <\/div>\n<\/p><\/div>\n<\/section>\n<p class=\"wp-block-paragraph\">The company <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/x.com\/robertjdenault\">said<\/a> Santos failed to cooperate with its compliance investigation, prompting the permanent ban and additional financial penalty. The ban is Kalshi\u2019s first lifetime ban.<\/p>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-1\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-1\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-15\" data-wex-ad=\"art-dsk-inart-1\"><\/div>\n<\/div>\n<\/div>\n<div class=\"article-paywall\">\n<p class=\"wp-block-paragraph\">Santos said Kalshi gave him a 30-day notice for the compliance investigation on Aug. 7.<\/p>\n<p class=\"wp-block-paragraph\">\u201cBy the way <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/x.com\/Kalshi\">@Kalshi<\/a> is such an unserious company it violates its own notices and deadlines lol,\u201d he <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/x.com\/Georgesantos\/status\/2094433522870063497\">wrote on X<\/a>. \u201cOn August 7th they gave us a 30 day notice and today they leaked\/ announced once again their frivolous nonsense.\u201d<\/p>\n<p class=\"wp-block-paragraph\">Leading up to Trump\u2019s address, Santos had repeatedly discussed his plans to attend the State of the Union. At one point, he posted about what he should wear to the speech.<\/p>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-2\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-2\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-16\" data-wex-ad=\"art-dsk-inart-2\"><\/div>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">On the day of the speech, Santos posted that he would be watching \u201cfrom an airport tv\u201d and implied he would miss the event.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Watching SOTU from an airport tv was not part of the plan! FML \ud83d\ude21\ud83e\udd2c<\/p>\n<p>\u2014 George Santos (@Georgesantos) <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/x.com\/Georgesantos\/status\/2026433381911638407?ref_src=twsrc%5Etfw\">February 24, 2026<\/a><\/p><\/blockquote>\n<p><script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script> <\/div>\n<\/figure>\n<p class=\"wp-block-paragraph\">The CFTC subsequently <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/9276-26?utm_source\">investigated<\/a> Santos and, in July, ordered him to surrender $17,569.98 in trading profits and pay a $17,500 civil penalty. Santos also agreed to a three-year ban from trading on prediction markets.<\/p>\n<p class=\"wp-block-paragraph\">Santos settled the CFTC case without admitting or denying wrongdoing.<\/p>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-3\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-3\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-17\" data-wex-ad=\"art-dsk-inart-3\"><\/div>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">Santos also dismissed the accusations on his podcast, prior to the CFTC settlement. <\/p>\n<p class=\"wp-block-paragraph\">\u201cI <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/george-santos-pays-35000-to-settle-suspicious-kalshi-trades\/\" title=\"... pays ,000 to settle suspicious ... ...\">guess people lost money<\/a>,\u201d he said in March. \u201cSome people made unexpected money. That\u2019s to show you how fragile these markets are.\u201d<\/p>\n<p class=\"wp-block-paragraph\"><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4597406\/prediction-market-lawsuits-court-battles\/\"><strong>PREDICTION MARKET LAWSUITS SET STAGE FOR MAJOR COURT BATTLES<\/strong><\/a><\/p>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-4\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-4\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-25\" data-wex-ad=\"art-dsk-inart-4\"><\/div>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">Santos was expelled from the House in December 2023, after less than a year in office, following allegations that he fabricated significant portions of his background and engaged in financial misconduct. The House Ethics Committee also found evidence that he used campaign funds for personal expenses, including purchases at Sephora and Hermes, as well as payments for OnlyFans subscriptions.<\/p>\n<p class=\"wp-block-paragraph\">Santos later pleaded guilty to wire fraud and aggravated identity theft and was sentenced in April 2025 to more than seven years in prison. Trump commuted Santos\u2019s sentence in October 2025.<\/p>\n<\/div>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-5\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-5\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-26\" data-wex-ad=\"art-dsk-inart-5\"><\/div>\n<\/div>\n<\/div>\n<\/article>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kalshi bans Santos over State of the Union contract manipulation<\/p>\n","protected":false},"author":4195,"featured_media":2652407,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/07\/santos.webp?w=696","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[41631,35668,53193,77287,5270],"class_list":["post-2652406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-financial-crime","tag-george-santos","tag-insider-trading","tag-kalshi","tag-regulation"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/07\/santos.webp?w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2652406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/4195"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2652406"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2652406\/revisions"}],"predecessor-version":[{"id":2652415,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2652406\/revisions\/2652415"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2652407"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2652406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2652406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2652406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}