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Ex-Congressman Santos Banned for Life by Kalshi

Bloomberg Markets •
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Ex-Congressman George Santos won't be able to place another wager on Kalshi Inc. after the prediction market platform banned him for life for allegedly manipulating wagers on his attendance at this year's State of the Union address. It's the first such ban by Kalshi, which announced the action on Monday along with a fine of $71,356. The ban follows Santos settling a federal regulator's probe that included fines, penalties and a three-year ban. Santos didn't cooperate with Kalshi's probe into the case, a Kalshi spokesperson said.