Kalshi slaps scandal-ridden George Santos with – Business News
Kalshi mentioned Monday that it has slapped scandal-ridden former Rep. George Santos with its first-ever lifetime ban after he allegedly made more than $17,000 in illicit bets on the prediction market.
On prime of the ban, Santos faces $71,356 in penalties for not cooperating with Kalshi’s inner investigation, the platform mentioned.
Between Feb. 2 and Feb. 25, 2026, Santos – the GOP congressman who was expelled in 2023 – positioned a sequence of giant bets on whether or not he would attend President Trump’s State of the Union tackle. He made $17,839.57 on the bets, in response to Kalshi.
Former Rep. George Santos faces a lifetime ban from Kalshi. Brian Zak/Page Six
The Commodity Futures Trading Commission, or CFTC, alleged Santos had made misrepresentations and omissions online that influenced the market he was betting on, and that he shouldn’t have been betting on an occasion that he had the ability to affect.
In July, the ousted New York lawmaker agreed to pay more than $35,000 in a settlement with the CFTC.
At the time of the settlement, Joseph Murray, Santos’ legal professional, mentioned the sacked congressman had agreed to make the cost to keep away from a doubtlessly prolonged and costly legal battle, including that it “should not be mistaken for admission of any wrongdoing.”
Santos voiced a defiant stance on Monday.
“Hey @Kalshi thanks for the lifetime ban from your gambling platform,” he wrote on X. “Let’s see how much longer you guys are around for.”
This is a developing story. Please test back for updates.
