Kalshi has permanently banned former Congressman George Santos from its platform and fined him $71,356 for manipulating a market tied to his own attendance at the State of the Union address, a move aligned with a prior CFTC settlement.

The action follows Santos’s profit of about $17,840 from the trades and comes after he faced a separate CFTC penalty of $35,000 for the same conduct.

Kalshi notes Santos did not fully cooperate with its internal investigation, which contributed to escalating the penalty to a lifetime ban.

The report is part of a broader news roundup segment featuring multiple political topics, rather than a standalone in-depth piece.

Kalshi frames the case within wider efforts to curb insider trading and market manipulation, including new disclosures, a whistleblower channel, risk reviews, and compliance partnerships.

The disciplinary action is part of Kalshi’s ongoing enforcement, which on that day also disciplined four other candidates for trading contracts tied to their own races, resulting in temporary suspensions.

The Santos action sits within a broader political landscape, including related cases in North Carolina’s 1st District and its redistricting context.

Regulatory scrutiny of Santos continues, with ongoing attention to his activities in political betting and related legal challenges.

The case underscores concerns about integrity and conflicts of interest in markets that trade on public figures.

Santos offered no immediate comment following the ban.

Santos has denied wrongdoing in related allegations, highlighting ongoing disputes over prediction markets and gambling classifications.

Public statements by Santos about his travel and attendance plans were cited as factors that moved contract prices in his favor.