Kalshi permanently bans George Santos over State of the Union speech bets

Prediction market platform Kalshi has permanently banned former U.S. Representative George Santos following wagering activity related to the State of the Union speech. The disciplinary action follows a prior enforcement measure by the U.S. Commodity Futures Trading Commission, which fined Santos approximately one month earlier for alleged market manipulation stemming from the same incident.

The ban marks the latest development involving Santos, who was previously expelled from the House of Representatives in 2023. The incident highlights ongoing regulatory and platform scrutiny surrounding political prediction markets and the involvement of prominent, controversial political figures.