Former US Congressman George Santos Receives Lifetime Ban From Kalshi Betting Platform

George Santos, the former Republican Congressman, has been issued a lifetime ban from Kalshi, a regulated prediction market. The platform cited violations of its user agreement, specifically accusing Santos of engaging in barred trades and making public comments designed to influence market outcomes.

Kalshi stated that Santos's actions included trading on markets where he possessed non-public information. Furthermore, the company highlighted instances where his public pronouncements were directly linked to price movements on its platform, constituting an unacceptable manipulation of the market.

The decision by Kalshi follows Santos's expulsion from the US Congress in December, a rare event spurred by a House Ethics Committee report detailing alleged criminal activity. This included accusations of misusing campaign funds and defrauding donors. Santos is currently facing 23 federal charges, to which he has pleaded not guilty.

Kalshi operates under the regulatory oversight of the Commodity Futures Trading Commission (CFTC). The company's co-founder and CEO, Tarek Mansour, confirmed the permanent ban, underscoring the platform's commitment to maintaining market integrity against individuals who exploit non-public information or seek to manipulate pricing for personal gain.