Kalshi, a regulated prediction market, has issued a lifetime ban to former U.S. Representative George Santos, citing allegations of illicit betting and failure to cooperate with an investigation. The platform also imposed $71,356 in penalties on Santos.
According to Kalshi, between February 2 and February 25, 2026, Santos placed bets totaling $17,839.57 on whether he would attend President Trump's State of the Union address. The Commodity Futures Trading Commission (CFTC) previously alleged that Santos made misrepresentations and omissions online that influenced the market he was betting on, and that he should not have been betting on an event he could influence.
In July, Santos, who was expelled from the House of Representatives in 2023, agreed to a settlement with the CFTC for over $35,000. His attorney stated at the time that the settlement was to avoid a lengthy and costly legal battle and should not be considered an admission of wrongdoing.
Santos responded defiantly to the ban on X, formerly Twitter, stating, "@Kalshi thanks for the lifetime ban from your gambling platform. Let’s see how much longer you guys are around for."