Former Rep. George Santos Settles $35,000 Probe Over Kalshi Trading Related to State of the Union
George Santos, a former Republican congressman from New York, has agreed to a settlement with the Commodity Futures Trading Commission (CFTC) over allegations of unlawful trading. Santos was investigated for placing bets on Kalshi, a prediction market, regarding his attendance at President Trump's State of the Union address. The settlement includes a $35,000 payment, covering fines and profits from the trades, and a three-year trading ban. Santos allegedly manipulated market expectations by publicly announcing his attendance plans, which he later changed, affecting the market prices.