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 A

Santos was accused of profiting from bets tied to his attendance at Trump’s State of the Union address George Santos, the former Republican congressman whose political career collapsed under a mountain of lies, has become the first person ever handed a lifetime ban by the prediction-market platform Kalshi. The company

The prediction market operator Kalshi says Santos made barred trades and misleading comments that influenced prices.

Kalshi Issues Its First Lifetime Ban to None Other Than George Santos  New York Magazine

George Santos becomes first person to get lifetime ban from Kalshi  CNN

Regulator says George Santos made public statements to boost the value of his own bets on whether he would attend the State of the Union address

The company says the ex-congressman didn't fully cooperate with its investigation into alleged insider trading.

George Santos Banned From Kalshi For Life After Platform Concluded He Was Likely Insider Trading  HuffPost

The prediction market said it had barred George Santos, the former congressman from New York, and fined him $71,356 over evidence he engaged in insider trading.

The prediction marketplace platform Kalshi has hit former U.S. Congressman George Santos with its first-ever permanent ban.

The former US representative was also fined more than $71,000 for allegedly attempting to manipulate the prediction market.

Santos was previously ousted from Congress and U.S. President Donald Trump commuted his prison sentence last year

Online prediction market Kalshi issues a lifetime ban to former New York Rep. George Santos

Kalshi said Monday that it has slapped scandal-ridden former Rep. George Santos with its first-ever lifetime ban after he allegedly made more than $17,000 in illicit bets on the prediction market.

George Santos faces a lifetime ban from Kalshi after failing to cooperate with the prediction market's investigation into his alleged unlawful trades.

George Santos mocked Kalshi after receiving the prediction market's first-ever lifetime trading ban.

The company also imposed a $71,356 penalty on the former congressman, who settled related CFTC charges in July

Ex-Congressman George Santos Receives Kalshi’s First-Ever Lifetime Ban  WSJ

Former Rep. George Santos (R-NY) became the first person ever to receive a lifetime ban from the online prediction market Kalshi. Santos, who was expelled from Congress in 2023, illegally made a series of large bets in February 2026 over whether or not he would attend President Donald Trump’s State of the Union address