The prediction market Kalshi has barred former Rep. George Santos for life after finding that he likely used the platform for insider trading.
It was the first-ever permanent ban for the prediction market, which also slapped Santos with a $71,000 fine.
The former U.S. congressman from New York made nearly $18,000 when he placed bets on whether he would attend President Donald Trump’s State of the Union address in February. He initially signaled that he planned to attend, but then didn’t go.
Santos responded on social media, calling the ban “frivolous nonsense.”
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