Kalshi Bans George Santos for Life Over Insider Trading

U.S. · 2026-08-31 23:53:42

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Kalshi announced a lifetime ban on former Republican Congressman George Santos on Monday, August 31, 2026, after its compliance division found reasonable cause for insider trading.

The investigation centered on bets Santos placed around the State of the Union address. He allegedly profited $17,839 from the positions. Kalshi fined him more than $71,000 — one report specified $71,356 — following his non-cooperation with the investigation.

Separately, federal regulators have accused Santos of profiting from his trading and of making public statements that influenced the bets.

Sources