Betting Platform Hits Ex-Rep. George Santos With Lifetime Ban Over Suspicious Trades, Company’s First Ever

August 31, 2026 3:16 PM ET Prediction market Kalshi issued its first-ever lifetime ban Monday against former Republican New York Rep. George Santos over alleged insider bets.The lifetime ban is linked to Santos for allegedly placing insider bets on whether he would attend the 2026 State of the Union, according to the Associated Press (AP). Santos made $17,839 in profit from his trading activity after betting that he would not attend the event, and he did not attend. While Santos appeared to tease his attendance at the 2026 State of the Union, he later posted on X that he was watching the event on an airport TV. As a result of the ban, Santos will not be able to access the prediction market either directly or indirectly. He also faces a $71,356 penalty, according to the AP.Hey @Kalshi thank