CFTC Orders Former Congressman George Santos to Pay $35,000 for Kalshi Trades
The Commodity Futures Trading Commission (CFTC) has mandated that former Republican Congressman George Santos pay a total of $35,000 due to his trading activities on Kalshi event contracts. The CFTC found that Santos engaged in trading based on events related to the State of the Union address, including whether he would attend. As part of the settlement, Santos is required to pay a civil monetary penalty of $17,500 and forfeit the $17,569.98 he earned from these trades. Additionally, Santos is banned from trading for three years and has agreed not to violate the Commodity Exchange Act and other CFTC regulations in the future. Santos, who was previously expelled from the U.S. House of Representatives, resolved the CFTC's inquiry without admitting to any allegations. 
