The prediction marketplace platform Kalshi has hit former U.S. Rep. George Santos with its first ever lifetime ban for betting against his own announced plans to attend President Donald Trump’s State of the Union address.
\n\n“The Compliance Department found that Santos made these statements with the intent to manipulate the price of the Yes or No contracts that he intended to purchase. Ultimately, these statements did in fact manipulate the price of said contracts,” the company said.
\n\nIn addition to barring him from “direct or indirect access” to its platform, Kalshi fined Santos $71,356 — multiples of the $17,839.57 it said he made from his wagers.
\n\nKalshi said it hit him with extra penalties because of “his lack of cooperation” with its probe.
\n\nSantos mocked the company in a post on X Monday, saying “thanks for the lifetime ban from your gambling platform. Let’s see how much longer you guys are around for.”
\n\nAn attorney for Santos did not immediately respond to a request for comment.
\n\nLate last month, Santos, a former Republican congressman from New York, agreed to pay $35,000 to settle a federal Commodity Futures Trading Commission investigation into his suspicious trades.
\n\nHis attorney, Joseph Murray, said then…
Original source: https://www.nbcnews.com/business