George Santos receives lifetime ban from Kalshi

Kalshi banned George Santos for manipulating prediction contracts about his State of the Union attendance, imposing a $71,356 penalty. The CFTC also fined him and issued a three-year trading ban.

Prediction market platform Kalshi has issued its first-ever lifetime ban to George Santos after finding he manipulated contracts related to his attendance at the 2026 State of the Union address. Santos allegedly bought contracts betting he would not attend, then publicly claimed he would be present, influencing contract prices before ultimately not attending and profiting about $17,570. Kalshi imposed a $71,356 penalty on Santos. Separately, the Commodity Futures Trading Commission (CFTC) ordered him to return his profits, pay a $35,000 civil penalty, and accept a three-year trading ban. Santos denied any wrongdoing and criticized Kalshi's decision. This case highlights growing regulatory scrutiny and ongoing efforts to strengthen integrity within prediction markets.