Kalshi Permanently Bans Former Congressman George Santos from Trading
Prediction market platform Kalshi has permanently banned former U.S. congressman George Santos, imposing a $71,356 penalty due to alleged insider trading activities detected on his account. The company cited its compliance department's findings of reasonable cause for the illicit behavior and had previously reported him to the Department of Justice in June 2026. This action follows increased scrutiny from regulators as platforms like Kalshi and Polymarket face rising instances of suspicious trading activity, highlighting growing compliance challenges within the sector. Santos was expelled from Congress over fraud-related charges earlier this year after being convicted for identity theft; his prison sentence had been commuted by former President Donald Trump in 2025.
Topics: George Santos insider trading Kalshi prediction markets