Kalshi bans ex-congressman George Santos from prediction platform for life
Prediction market platform Kalshi has issued a lifetime ban and a $71,356 fine to former Congressman George Santos. This action follows accusations by federal regulators that Santos profited from bets tied to his attendance at Donald Trump's State of the Union address.
The story so far
- Aug 29
- Aug 31
How outlets cover it
4 outletsNot rated on the left–right scale. It describes Western party politics and doesn’t fit state media or outlets outside that system, so we show ownership and country instead.
Open questions and key claims
Perez made $107,500 on prediction markets by betting on words and phrases that would appear in Trump’s speeches.
White House press secretary Karoline Leavitt called the situation 'unfortunate' and 'a disgrace'.
Former White House teleprompter operator Gabriel Perez ordered to turn over over $100,000 in profits and pay $65,000 fine.
Perez must surrender $107,539.02 in profits and pay a $65,000 civil penalty.
Perez was ordered to disgorge $107,539.02 in profits and pay a $65,000 civil penalty.
The White House described reports of insider trading as 'deeply unfortunate and, frankly, a disgrace'.
Santos called Kalshi 'an unserious company' and labeled the ban 'frivolous nonsense' on X.
A former White House teleprompter operator was ordered to pay over $172,000 for using inside information to bet on Trump's speeches.
Who and where
Related stories over time
same people and places- Jul 16 – Jul 28 earlier
- Aug 29 – Aug 31◆ This story