{"id":797374,"date":"2026-08-01T12:35:14","date_gmt":"2026-08-01T12:35:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/797374\/"},"modified":"2026-08-01T12:35:14","modified_gmt":"2026-08-01T12:35:14","slug":"george-santos-fined-temporarily-banned-from-kalshi-prediction-market","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/797374\/","title":{"rendered":"George Santos fined, temporarily banned from Kalshi prediction market"},"content":{"rendered":"

Former Republican congressman George Santos has agreed to pay more than $35,000 in fines and is temporarily barred from trading on Kalshi after federal regulators concluded he\u00a0unlawfully manipulated<\/a>\u00a0a prediction market.<\/p>\n

The Commodity Futures Trading Commission\u00a0announced Friday<\/a>\u00a0that Santos will pay a $17,500 civil penalty and forfeit an additional $17,570 in profits under a settlement resolving allegations that he improperly profited from trades tied to his attendance at President Donald Trump\u2019s State of the Union address in February. He is also banned from trading on the prediction market Kalshi for three years.<\/p>\n

The case stems from bets Santos placed <\/a>on whether he would attend Trump\u2019s address to Congress in February. Santos publicly indicated he planned to attend the speech while also placing trades on Kalshi predicting that he would not appear. He later announced on the night of the address in a\u00a0post<\/a>\u00a0on X that he would miss the event.<\/p>\n

Kalshi flagged<\/a> the unusual trading activity and referred the matter to federal authorities, including the CFTC, which opened an investigation in June.\u00a0<\/p>\n

\u201cMr. Santos has agreed to resolve the CFT\u2019s inquiry and to put this matter behind him. Critically, and consistent with how these regulatory matters are commonly resolved, Mr. Santos has settled without admitting any of the Commission\u2019s allegations, findings, or conclusions,\u201d Santos\u2019 attorney, Joseph W. Murray, said<\/a> in a statement.<\/p>\n

\tRecommended<\/p>\n

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\n\t\t\t\t\"\"\t\t\t\t<\/a><\/p>\n

\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\tEbony Davis<\/a>\t\t<\/p>\n

\n\t\t\t\t\t\tEbony Davis is a breaking news reporter for MS NOW based in Washington, D.C. She previously worked at CNN as a campaign reporter covering elections and politics.\u00a0\u00a0\t\t<\/p>\n

\"MS<\/p>\n

\u00a9\u00a02026 Versant Media, LLC<\/p>\n

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