Kalshi bans George Santos for life over State of the Union bets
In Brief Posted: 11:53 AM PDT · August 31, 2026 Image Credits:Anna Moneymaker/Getty Images / Getty Images Kalshi has banned former Republican Rep. George Santos from its platform for life, the first time the prediction market company has taken such an action.
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Key Facts
- Fact 1: In Brief Posted: 11:53 AM PDT · August 31, 2026 Image Credits:Anna Moneymaker/Getty Images / Getty Images Kalshi has banned former Republican Rep.
- Fact 2: The Santos ban follows allegations that he bet on whether he would attend President Trump’s State of the Union address, allegedly making $17,839 on the wager.
- Fact 3: Kalshi also fined Santos $71,356 over the activity.
- Fact 4: Let’s see how much longer you guys are around for.” The move follows a separate CFTC settlement two months earlier over the same conduct, in which Santos agreed to pay an additional $35,000.
In Brief Posted: 11:53 AM PDT · August 31, 2026 Image Credits:Anna Moneymaker/Getty Images / Getty Images Kalshi has banned former Republican Rep. George Santos from its platform for life, the first time the prediction market company has taken such an action.
Kalshi also penalized and suspended several political candidates accused of betting on their own races, including Ben Midgley, who ran and lost in the Republican primary for Maine’s gubernatorial race; Laurie Buckhout, a Republican congressional nominee; and former California gubernatorial candidate Stephen Cloobeck. The Santos ban follows allegations that he bet on whether he would attend President Trump’s State of the Union address, allegedly making $17,839 on the wager. Kalshi’s compliance department said it “established reasonable cause” to believe that Santos had placed bets connected to his own attendance at the event.
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