Former Rep. George Santos is under federal scrutiny after placing a bet on the prediction market Kalshi about his own appearance at a State of the Union address.

Santos, who posted on X that he would attend, missed the speech. Kalshi’s data revealed he wagered against his own attendance, prompting the firm to forward the case to the Justice Department and the C.F.T.C..

The probe arrives amid heightened scrutiny of prediction markets linked to the Trump enterprise. It follows two other insider‑trading cases involving the C.F.T.C. and the Justice Department last month, underscoring regulators’ intent to clamp down on market abuses.

Key entities: George Santos, Kalshi, C.F.T.C.