The Division of Justice and the Commodity Futures Buying and selling Fee (CFTC) of america opened an investigation towards former congressman George Santos for suspicious trades on the prediction markets platform Kalshi, in line with NPR.
Santos allegedly wager tens of 1000’s of {dollars} towards his personal attendance at President Trump’s State of the Union tackle in February, after posting a video on X saying he can be current within the gallery. Whereas Trump was talking, Santos posted from an airport, and the percentages on his attendance collapsed.
Kalshi detected the trades, froze the previous legislator’s account and referred the case to regulators. The platform requested to interview him as a part of its inside investigation, however he reportedly prevented these requests. When contacted by NPR, he responded: “Nicely, that’s information to me.”
The case provides to a collection of investigations into the alleged use of insider data in prediction markets. In April, federal prosecutors charged an Military Particular Forces soldier over roughly $409,000 in positive aspects on Polymarket linked to the seize of Venezuelan chief Nicolás Maduro.
Supply: https://www.npr.org/2026/06/02/nx-s1-5843371/george-santos-kalshi-insider-trading-investigation
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