Kalshi imposed a life trade ban and a $70,000 fine on former Congressman Santos

Kalshi, the predictive market platform, imposed its first lifetime trade ban on former United States Congressman George Santos and imposed a fine of over $70,000. Kalshi alleged that Santos had made a substantial deal in a contract related to his attendance at the State of the Trump State of the Nation, and had influenced the contract price by publishing false or misleading statements about his presence, ultimately making a profit of approximately $18,000 by betting that he would not attend. Kalshi stated that the same platform, which had been permanently blocked for non-cooperation with the investigation, had also dealt with four other law enforcement cases, and that the relevant users had cooperated with the investigation and were only temporarily barred from trading。