Key facts
- Prediction market startup Kalshi permanently banned George Santos from its platform.
- The company imposed a penalty of $71,356 on Santos.
- Kalshi's compliance department found reasonable cause to believe Santos engaged in illicit trading.
Prediction market startup Kalshi has permanently banned former U.S. congressman George Santos from its platform and imposed a penalty of $71,356, citing insider trading activity. The company stated in a disciplinary action that its compliance department found reasonable cause to believe the former lawmaker engaged in illicit trading. A separate report indicated the CFTC ordered Santos to pay $35,000 over trades on Kalshi.