Former Rep. George Santos Investigated for Insider Betting on State of the Union Attendance
Former U.S. Representative George Santos is under federal investigation by the CFTC and DOJ for allegedly betting against his own attendance at President Trump’s February 2026 State of the Union address on the prediction market Kalshi. Santos publicly claimed he would attend, driving up betting odds, but had secretly wagered he would not, then skipped the event, reportedly earning tens of thousands of dollars. Kalshi detected the suspicious trades and reported him. Santos, who was expelled from Congress and had his fraud sentence commuted by Trump, denies wrongdoing. Polymarket also cut ties with him.
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Reporter Reveals George Santos Threatened Him Over Betting Fraud Story
NPR reporter Bobby Allyn reported that former Congressman George Santos threatened him during a phone call after Allyn published a story revealing Santos was under investigation by the DOJ and CFTC for suspicious bets on the prediction market Kalshi. Santos allegedly told Allyn, 'This story is going to get you a gun in your face.' Santos later denied the threat via text, claiming he said it would 'blow up in your face.' Santos had bet that he would not attend the State of the Union address after publicly expressing excitement about attending. Kalshi officials had alerted federal authorities. Santos, who was convicted of wire fraud and aggravated identity theft in April 2025 and sentenced to seven years, had his sentence commuted by President Trump in October. Polymarket, a rival prediction market, cut ties with Santos after the story broke.
The New RepublicReporter Reveals George Santos Threatened Him Over Betting Fraud Story
NPR reporter Bobby Allyn reported that former Congressman George Santos threatened him during a phone call after Allyn broke a story about Santos being investigated by the DOJ and CFTC for suspicious bets on the prediction market Kalshi. Allyn claims Santos said, 'This story is going to get you a gun in your face.' Santos later denied the threat via text, claiming he said 'blow up in your face.' Santos had bet he would not attend the State of the Union address despite expressing excitement. Kalshi alerted federal authorities, and an investigation is ongoing. Santos, a convicted fraudster sentenced to seven years for wire fraud and identity theft, had his sentence commuted by President Trump in October 2025. Polymarket, a rival prediction market, cut ties with Santos after the story broke.
The New RepublicGeorge Santos Threatens NPR Reporter Over Fraud Investigation Story
NPR reporter Bobby Allyn reported that former Congressman George Santos, a convicted fraudster whose sentence was commuted by President Trump, threatened him during a phone call. The threat came after Allyn published a story revealing that the Department of Justice and the Commodity Futures Trading Commission were investigating Santos for allegedly placing bets on the prediction market Kalshi, including a bet that he would not attend the State of the Union address. Santos denied the threat, claiming he said the story would 'blow up in your face,' not that it would 'get you a gun in your face.' Santos also lost a paid partnership with Polymarket after the story broke. The article highlights Santos's history of fraud and his combative response to press scrutiny.
The New RepublicGeorge Santos Investigated for Insider Trading Over Kalshi Bets on Trump State of the Union Attendance
Former U.S. Congressman George Santos, who was previously pardoned by President Trump after serving part of a seven-year sentence for wire fraud and money laundering, is now under investigation by the Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ) for alleged insider trading. The probe centers on bets placed on Kalshi, a federally regulated prediction market where Donald Trump Jr. serves as a strategic advisor. Users wagered millions on whether Santos would attend Trump's State of the Union address in February 2026. Santos publicly announced on X that he would attend, causing bets on his presence to spike, but he ultimately did not show up, claiming he was stuck at an airport. Investigators are examining whether Santos placed bets against his own attendance while publicly signaling he would be there, potentially profiting from the scheme. The CFTC has stated that insider trading in prediction markets is a top enforcement priority and a violation of the Commodity Exchange Act.
Yahoo FinancePolymarket cuts ties with George Santos as feds probe alleged insider betting on Kalshi
Online prediction platform Polymarket is terminating its paid influencer contract with former U.S. Representative George Santos as federal regulators investigate whether he illegally bet against his own attendance at President Donald Trump's State of the Union address. Santos placed bets on rival platform Kalshi after publicly announcing he would attend the February 24 speech, later claiming a delayed flight caused him to miss it. Kalshi detected the suspicious trades and referred them to the Commodity Futures Trading Commission (CFTC), which has opened an insider trading probe. Santos, who was released from federal prison last October after Trump commuted his sentence for wire fraud and identity theft, had been working as a paid influencer for Polymarket. He has not responded to requests for comment.
Fortune | FORTUNEPolymarket cuts ties with former Rep. George Santos as feds investigate if he illegally bet against his own actions on Kalshi
Online prediction platform Polymarket is ending its paid relationship with former U.S. Representative George Santos as federal regulators investigate whether he illegally bet against his own attendance at President Donald Trump's State of the Union address. Santos placed bets on rival platform Kalshi after publicly announcing he would attend the Feb. 24 speech, but later blamed a delayed flight for missing it. Kalshi detected the suspicious trades and referred them to the Commodity Futures Trading Commission (CFTC), which has opened an insider trading probe. Santos, who was released from federal prison last October after Trump granted him clemency in a fraud case, had been working as an influencer for Polymarket. A Polymarket spokesperson confirmed the company is terminating the contract. Santos has not responded to requests for comment.
Fortune | FORTUNEGeorge Santos Under Investigation for Alleged Insider Trading on Prediction Market Bet
Former U.S. Representative George Santos is under investigation by the Commodity Futures Trading Commission and the Department of Justice for alleged insider trading on the prediction market platform Kalshi. According to NPR, Santos publicly announced he would attend President Donald Trump's State of the Union address in February, causing betting odds on his appearance to soar. However, he had already placed bets that he would not attend, and then skipped the event, earning tens of thousands of dollars. Kalshi referred the case to federal authorities after its own probe. Santos denied knowledge of the investigation and dismissed the reporting on social media. The case highlights a growing trend of political insider trading on prediction markets, with Kalshi recently banning and fining other candidates for similar behavior.
The New RepublicGeorge Santos Investigated for Insider Trading on Prediction Market Bet
Former U.S. Representative George Santos is under investigation by the Commodity Futures Trading Commission and the Department of Justice for alleged insider trading on the prediction market platform Kalshi. According to NPR, Santos publicly announced he would attend President Donald Trump's State of the Union address in February, causing betting odds on his appearance to soar. However, he had already placed bets that he would not attend, and subsequently skipped the event, earning tens of thousands of dollars. Kalshi referred the case to federal regulators. Santos dismissed the reporting on social media, calling it 'rag reporting.' The article also contextualizes the growing trend of political insider trading on prediction markets, noting that Kalshi recently banned and fined several candidates for betting on themselves, and that an Army soldier was charged for using confidential intel to win $400,000 on Polymarket.
The New RepublicGeorge Santos Investigated for Insider Trading on Prediction Market Betting He Would Miss Trump's SOTU
Former U.S. Representative George Santos is under investigation by the Commodity Futures Trading Commission and the Department of Justice for alleged insider trading on the prediction market platform Kalshi. According to NPR, Santos publicly announced he would attend President Donald Trump's State of the Union address in February, causing betting odds on his appearance to soar. However, he had already placed bets that he would not attend, and then skipped the event, reportedly earning tens of thousands of dollars. Kalshi referred the case to regulators after its own probe. Santos denied knowledge of the investigation and dismissed the reporting on social media. The case highlights a growing trend of political insiders using prediction markets for apparent insider trading, with Kalshi recently banning and fining other candidates for similar behavior.
The New RepublicKalshi Reports Former Rep. George Santos for Betting Against His Own State of the Union Attendance
Prediction market Kalshi reported former U.S. Representative George Santos to federal prosecutors and the Commodity Futures Trading Commission after detecting suspicious trades. Santos allegedly placed bets under another account that he would not attend President Trump's State of the Union address in February, despite publicly teasing his attendance. Kalshi had set odds of Santos attending at nearly 75% before the speech. Santos posted on X that he was delayed at the airport, leading to accusations of a scheme. Santos, who pleaded guilty to fraud and identity theft in 2024 and was released after 84 days following clemency from Trump, declined to confirm or deny having a Kalshi account. The case highlights growing scrutiny of insider trading in prediction markets.
Fortune | FORTUNEGeorge Santos Investigated for Betting Against His Own State of the Union Attendance on Kalshi
Former U.S. Representative George Santos is under federal investigation after allegedly betting on the prediction market Kalshi that he would not attend President Donald Trump's State of the Union address in February 2026, despite repeatedly posting on social media that he would attend. Kalshi reported Santos to authorities, and the Commodity Futures Trading Commission opened a probe. Santos had claimed in videos and posts on X that he would be present in the gallery, causing his betting odds to surge. On the evening of the address, he posted that he was watching from an airport, causing odds to plummet. Users wagered over $15 million on the market. Santos, who was expelled from Congress and had his prison sentence commuted by Trump, has not confirmed whether he has a Kalshi account.
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