Kalshi Bans George Santos for Life Over Betting Scheme

Prediction market Kalshi announced Monday it is banning former Republican Rep. George Santos for life from its platform, after a federal regulator alleged Santos made more than $17,000 wagering on his own attendance at President Trump's State of the Union address. Kalshi said its compliance department also slapped Santos with a $71,356 penalty, according to a filing posted on the company's website. A Kalshi spokeswoman said it marks the first lifetime ban the company has ever issued. Santos, who was expelled from Congress in 2023 amid a fraud scandal and later convicted on federal charges, has drawn scrutiny for a string of controversies. The betting scheme adds another chapter to his legal troubles.