Prediction market Kalshi has issued a lifetime ban to former Republican Rep. George Santos from its platform, a first for the company. The decision follows allegations that Santos placed bets on his own attendance at President Trump’s State of the Union address, reportedly making $17,839 from the wager.
Kalshi's compliance department stated it had "established reasonable cause" to believe Santos placed bets connected to his attendance. The company also imposed a fine of $71,356 on Santos for the activity. Kalshi accused Santos of making public statements about his attendance to influence the odds, noting that as a person capable of influencing the outcome, he was prohibited from trading in that market.
Santos responded to the ban on X, stating: "Hey @Kalshi thanks for the lifetime ban from your gambling platform. Let’s see how much longer you guys are around for."
This action by Kalshi comes two months after a separate settlement with the Commodity Futures Trading Commission (CFTC) over the same conduct, where Santos agreed to pay an additional $35,000.
Several other political candidates, including Ben Midgely, Laurie Buckhout, and Stephen Cloobeck, were also penalised and suspended by Kalshi for allegedly betting on their own races.