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PoliticsKalshi permanently bans ex-Rep. George Santos after regulator alleges he profited from Trump State of the Union bets
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The Wall Street Journal reports that Kalshi, a prediction market platform, has permanently banned former U.S. Congressman George Santos. This decision follows an allegation by a federal regulator that Santos made over $17,000 by placing bets on his own attendance at President Donald Trump's State of the Union address. The regulator's claim suggests Santos used inside knowledge of his plans to profit from the event-based contracts. Kalshi's ban is a response to the alleged misconduct, which raises questions about market integrity and the use of non-public information on prediction platforms. The incident highlights ongoing scrutiny of both Santos, who has faced multiple legal and ethical controversies, and the regulatory environment surrounding event-based betting markets.
Source report
A federal regulator has alleged that a lawmaker earned more than $17,000 by placing bets on his own attendance at the State of the Union address, prompting a formal decision in the case.
The allegation centers on wagers made regarding the lawmaker's presence at the annual presidential address. The regulator's findings have led to the subsequent action announced today.
Source
WSJ.com: PoliticsWestern
Part of this Story
Kalshi permanently bans George Santos, fines him $71,356 for insider trading on Trump speech bets