Feed / Enforcement & compliance
By SectorWire desk ·
The report said that former US representative George Santos agreed to pay $35,000 to settle a CFTC investigation. Investigators alleged he traded on Kalshi on whether he would attend Donald Trump’s State of the Union address.
The settlement resolves an investigation into an alleged event-contract trade involving Santos’ own attendance.
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Kalshi imposed a permanent ban and financial penalty over alleged manipulation involving Santos’s trading and public attendance statements.
The action addresses manipulation of a contract linked to Santos’s own conduct.
The penalty addresses misleading public statements linked to event contract trading.
The agreement resolves the regulator’s market manipulation investigation.
Reported wash trading estimates and sports betting concentration put prediction platforms’ trading integrity and younger users under scrutiny.
Kalshi’s first permanent exclusion demonstrates its enforcement response to alleged manipulation of political prediction contracts.