George Santos Bet on Whether He'd Show Up to the State of the Union—Kalshi Just Banned Him for Life
In brief Kalshi permanently banned former Rep. George Santos and fined him $71,356 for manipulating a market tied to his own attendance at the State of the Union address—its first lifetime ban of a former member of Congress.
Why It Matters
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Key Facts
- Fact 1: George Santos and fined him $71,356 for manipulating a market tied to his own attendance at the State of the Union address—its first lifetime ban of a former member of Congress.
- Fact 2: 2 and 25, then made false or misleading public statements to move prices, profiting $17,839.57 and violating rules on manipulation and trading with influence over an outcome.
- Fact 3: George Santos, finding that he manipulated a market tied to his own attendance at the State of the Union address and pocketed nearly $18,000 in the process.
- Fact 4: 28, Kalshi's compliance department said Santos placed a series of large trades between Feb.
In brief Kalshi permanently banned former Rep. George Santos and fined him $71,356 for manipulating a market tied to his own attendance at the State of the Union address—its first lifetime ban of a former member of Congress.
Kalshi found Santos placed large trades between Feb. 2 and 25, then made false or misleading public statements to move prices, profiting $17,839.57 and violating rules on manipulation and trading with influence over an outcome. It's the latest integrity scandal to hit prediction markets, following multiple recent cases.
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