Kalshi Bans George Santos for Life After State of the Union Trading Case

Prediction-market exchange Kalshi has permanently banned former congressman George Santos after finding that he placed large trades tied to whether he would attend the State of the Union address. According to Decrypt, the exchange determined that Santos traded on his own expected attendance and then made false statements that moved market prices. The activity generated nearly $18,000 in profit, the report said. Kalshi’s lifetime ban removes Santos from the platform following the exchange’s findings about the trades and related statements. The case highlights the risks of participants trading on events involving themselves, particularly when their public comments can influence market expectations and prices. No further details about the specific contracts or timing of the trades were provided in the source material.