Published • loading... • Updated
George Santos Probed for Betting on Himself on Kalshi
Kalshi froze Santos’ account and referred the trades to federal authorities after his public statements pushed market odds higher, sources said.
- The online prediction marketplace Kalshi has referred former New York Congressman George Santos to the Department of Justice and the Commodity Futures Trading Commission over suspicious trading activity.
- Federal investigators are examining whether Santos engaged in insider trading by placing wagers that he would not attend President Donald Trump's State of the Union address in February.
- Prior to the event, Santos publicly declared on social media that he would be sitting in the gallery for the speech, a move that sent the market odds of his attendance surging to roughly 75%.
- Santos ultimately did not attend the address, later posting from an airport that his travel plans had fallen through, while allegedly profiting tens of thousands of dollars from the market's subsequent collapse.
- Kalshi detected the irregular activity, froze the account tied to Santos, and reported the matter to federal authorities amid heightened legislative scrutiny over market manipulation on political betting platforms.
Insights by Ground AI
Podcasts & Opinions
162 Articles
162 Articles
The Toronto Star+3 Reposted by 3 other sources
Polymarket cuts ties with George Santos as regulators probe trades on rival prediction market
Federal regulators are investigating whether the former congressman illegally bet against his own attendance at President Donald Trump’s State of the Union.
·Toronto, Canada
Read Full Article
Coverage Details
Total News Sources162
Leaning Left41Leaning Right13Center86Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
L 29%
C 62%
Factuality
To view factuality data please Upgrade to Premium
