- US prediction-market platform Kalshi permanently revoked former US Representative George Santos’s trading privileges and imposed a fine of more than $71,000.
- The move comes as controversy grows over trading on nonpublic information in the prediction-market industry, with the CFTC also taking enforcement action in related cases.
- Major platforms including Kalshi and Polymarket are strengthening internal measures to prevent insider trading, including verifying employment information for traders participating in sensitive markets.
Kalshi Permanently Bans Former US Rep. George Santos in First for Platform
Kalshi has permanently banned former U.S. Rep. George Santos, marking the platform’s first permanent ban of this kind. The excerpt does not specify the reason for the ban or whether it relates to particular activity on the…
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Sep 1, 2026 at 2:07 AM UTC · 2 分钟阅读
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Kalshi has permanently barred former US Representative George Santos from trading on its prediction-market platform, marking the first lifetime ban the company has imposed on a user.
The Block reported on August 31 that, according to a disciplinary settlement notice filed by Kalshi, Santos violated platform rules while trading contracts tied to whether he would attend the State of the Union address. Kalshi also fined him more than $71,000.
Kalshi’s compliance department said it had reasonable grounds to conclude that Santos traded in a market related to his own attendance at the State of the Union.
Santos settled the same matter with the Commodity Futures Trading Commission last month. The agency found that he publicly commented about whether he would attend the State of the Union about two weeks before the speech, materially affecting prices in the related prediction contracts.
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