Kalshi bans ex-congressman George Santos for life after suspicious trades

TL;DR

Kalshi permanently banned George Santos from its prediction market platform.
Santos was fined $71,356 by Kalshi for his lack of cooperation with an investigation.
The investigation concerned alleged unlawful trades made by Santos related to the 2026 State of the Union address.
Kalshi believes Santos engaged in insider trading by betting on his own attendance and attempting to influence contract prices.
This is the first lifetime ban issued by Kalshi.
Santos previously settled a federal probe with the CFTC for $35,000 and received a three-year trading ban.

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