Kalshi bans George Santos for $17,839 market manipulation
Kalshi has permanently banned former U.S. Representative George Santos and imposed a $71,356 penalty after finding that he manipulated an attendance market to earn $17,839.57. Kalshi‘s Aug. 28 disciplinary notice said Santos placed large trades between Feb. 2 and Feb. 25 in contracts that paid according to whether he attended President Donald Trump’s 2026 State of the Union address. Kalshi says Santos traded an outcome he could control As the person whose attendance determined the contracts result, Santos had direct influence over the event. Kalshi Rule 5.17(z) prohibits members from trading contracts when they can affect the underlying outcome. Despite the restriction, Santos bought and sold contracts tied solely to his own attendance, the compliance department found. His trades involved both “Yes” contracts, which would pay if he appeared at the event, and “No” contracts, which would pay if he did not. During the trading period, Santos published several statements about his travel and attendance plans. Kalshi said some of the posts were false or misleading and were made to move prices before he purchased or sold the relevant contracts. The exchange determined that the statements had their intended effect on the market. By moving between “Yes” and “No” positions while controlling information about his plans,









