Kalshi bans ex-Congressman George Santos for life over insider trading

The online prediction market platform Kalshi said Monday that it has permanently banned former U.S. Rep. George Santos after concluding the former Republican congressman likely engaged in insider trading when he profited by betting against his attendance at the State of the Union address. The company announced the ban after its compliance department said it had established reasonable cause to believe Santos engaged in insider trading, contributing to speculation over whether he would attend the…