Kalshi Issues First Lifetime Ban to George Santos Over Self-Trading
Kalshi Compliance Department banned former congressman George Santos for life effective 28 August 2026, citing insider trading and market manipulation with a $71,356 penalty.
Kalshi's Compliance Department banned former US Representative George Santos for life effective 28 August 2026. The platform determined reasonable cause to believe he engaged in insider trading and market manipulation by trading on events he could influence.
Santos placed large trades between 2 February and 25 February in contracts tied to his own attendance at the State of the Union address, earning $17,839.57. Kalshi imposed a $71,356 penalty and barred direct and indirect access. The action follows Santos's CFTC settlement last month in which he agreed to pay $35,000 without admitting or denying findings.
Exact list of markets traded and full trade details remain undisclosed in the compliance notice.