Chicago – August 31, 2026
Prediction-market operator Kalshi has issued its first-ever lifetime ban to former U.S. Representative George Santos, permanently barring him from the platform and imposing a $71,356 penalty.
The disciplinary action follows findings that Santos engaged in prohibited trading by betting on his own attendance at President Donald Trump’s State of the Union address in February 2026.
Between February 2 and February 25, Santos placed a series of large wagers on whether he would attend the speech, ultimately profiting $17,839.57.
Kalshi’s compliance department concluded there was “reasonable cause” to believe Santos manipulated contract prices by making false or misleading public statements about his intentions while simultaneously trading against them. The company said his failure to cooperate with its internal investigation contributed to the severity of the lifetime penalty.
The ban comes after the Commodity Futures Trading Commission (CFTC) separately barred Santos from all prediction markets for three years in a July settlement. Santos responded to Kalshi’s action on social media, writing: “Thanks for the lifetime ban from your gambling platform. Let’s see how much longer you guys are around for.”
