Kalshi has imposed its first-ever lifetime ban on former Republican Rep. George Santos after a federal regulator alleged he made more than $17,000 by placing bets on his attendance at President Trump's State of the Union address. The platform also imposed a $71,356 penalty.

Santos was banned because he did not fully cooperate with the investigation, according to Kalshi. "Hey @Kalshi thanks for the lifetime ban from your gambling platform," Santos wrote on X, adding "Let's see how much longer you guys are around for." The CFTC had previously banned Santos from trading on all platforms for three years, noting he improperly traded on an event he could influence. The regulatory crackdown reflects growing concerns about insider trading in prediction markets.