George Santos agrees to $35,000 settlement in federal probe over Kalshi trades
Summary
George Santos agreed to pay $35,000 to settle a federal investigation about suspicious trades he made on a prediction market. He did not admit wrongdoing but accepted a ban from trading for three years and repayment of earnings linked to these trades.Key Facts
- George Santos settled with the Commodity Futures Trading Commission (CFTC) for $35,000.
- The settlement includes repaying $17,000 he earned from the trades plus a $17,500 fine.
- Santos received a three-year ban from trading on such platforms.
- The investigation focused on trades Santos made betting he would not attend President Trump’s State of the Union address.
- Santos had publicly said he planned to attend but later said he was stuck at the airport and missed the event.
- The prediction market Kalshi reported Santos to regulators and plans to take its own enforcement actions.
- Santos said he intended to attend and booked travel but was delayed by a winter storm.
- Santos was expelled from Congress and faced other federal charges unrelated to this case.
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