George Santos to pay $35K after CFTC finds Kalshi market manipulation
George Santos has settled CFTC case over Kalshi prediction market trades by accepting penalties and a three-year trading ban after regulators found he made misleading public statements while betting on his attendance at President Donald Trumps State of the Union address. According to a July 31 order from the U.S. Commodity Futures Trading Commission (CFTC), former U.S. Representative George Santos must return $17,569.98 in trading gains, pay a $17,500 civil monetary penalty, comply with a cease-and-desist order, and stay away from trading on any CFTC-registered entity for three years after settling allegations tied to trades on prediction market platform Kalshi. The settlement closes an investigation that began earlier this year after Kalshi referred Santos‘ trading activity to regulators. While Santos accepted the settlement, the order states that he neither admitted nor denied the agency’s findings or legal conclusions. CFTC says Santos traded both sides of Kalshi market Regulators said Santos opened a Kalshi account on Feb. 11, roughly four months after President Donald Trump commuted his prison sentence. The former congressman funded the account with about $7,000 and traded only one event contract, which asked whether he would attend Trumps State of the Union address. Trading records included in the order show Santos initially accumulated









