Kalshi bans George Santos for life over State of the Union bets | TechCrunch
2026-08-31 08:00Cybersecurity🔥 28.9 heat score
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Kalshi, a forecasting market company, fined the former Republican congressman George Santos $17,800 for making bets on whether Santos would attend President Trump’s State of the Union address. The compliance department determined that Santos, as someone who could influence the outcome of the event, was prohibited from trading. This is the first time Kalshi has taken such action against political figures. Additionally, Kalshi suspended the trading rights of several political candidates suspected of betting during elections, including Maine’s candidate Ben Meadeley, Congressman Laurie Burkhardt, and former California governor candidate Stephen Klubeck. Two months prior, Santos reached a settlement with the Commodity Futures Trading Commission (CFTC) for similar behavior and paid an additional $35,000.