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August 31, 2026

Kalshi Permanently Bans George Santos for Insider Trading Related to State of the Union Attendance

  • Kalshi has permanently banned George Santos for insider trading related to his attendance at the State of the Union, marking the first permanent ban in the company's history.
  • Santos misled the public about attending the event while placing bets that he would not show up, resulting in a profit of over $17,000 from his wagers.
  • Kalshi found that Santos manipulated contract prices with his statements, leading to the ban and a $71,356 fine, along with a previous penalty from the Commodity Futures Trading Commission.

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