George Santos reported to prosecutors over suspicious Kalshi trades, source says
George Santos has been referred to federal prosecutors by the prediction market Kalshi due to suspicious trades he made regarding his attendance at President Trump's State of the Union address. Santos reportedly bet against his own attendance after publicly stating he would go. The investigation has raised concerns about insider trading in prediction markets, prompting regulatory scrutiny.
- ▪Kalshi reported George Santos to the Department of Justice after detecting suspicious trades.
- ▪Santos had publicly stated his intention to attend the State of the Union before betting against it.
- ▪The Commodity Futures Trading Commission is also involved in the investigation.
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Open this photo in gallery:Predictions market Kalshi referred George Santos, pictured in 2023, to the Department of Justice after detecting suspicious trades.Mariam Zuhaib/The Associated PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountA prediction market reported George Santos to federal prosecutors after he boasted he’d be going to President Donald Trump’s State of the Union address, then bet against his own attendance, according to a person familiar with the investigation.Kalshi, the online prediction marketplace, referred Santos to the Department of Justice after detecting suspicious trades made by the former congressman ahead of Trump’s Feb. 24 speech, the person said.
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