Kalshi Bans George Santos
The betting platform issued its first lifetime ban after probing Santos' trades.
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Updated Aug 31, 6:48pm ETBoth sides, every morning
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The reporting
Kalshi permanently banned former Rep. George Santos from its prediction market, its first lifetime ban, and fined him $71,356 over February trades tied to whether he would attend President Donald Trump’s State of the Union address. Kalshi said Santos posted public statements about attending while trading contracts on the outcome, making $17,839.57 in profit and failing to fully cooperate with its investigation. The company also imposed penalties on political candidates accused of betting on their own races, including Laurie Buckhout and Ben Midgley.
Analysis & opinion
Deserved Santos BanMostly Left
George Santos’s Kalshi ban was a fitting result of his dishonest and scandalous conduct. His record of fraud, impropriety, and alleged self-interested betting made the platform’s unprecedented lifetime ban justified.
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