Feed / Enforcement & compliance
By SectorWire desk ·
The report said that former congressman George Santos was fined in the US over betting manipulation. The report said he profited by misleading bettors through social media across two weeks.
The penalty concerns alleged misuse of social media to profit from betting.
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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.
Kalshi’s lifetime ban of Santos demonstrates participant exclusion as a disciplinary response to market manipulation.
Kalshi identified suspected trading misconduct, imposed a permanent exclusion and referred the matter to federal authorities.
Kalshi’s disciplinary cases address candidates buying contracts linked to themselves and alleged market manipulation.
Santos has lost access to Kalshi and his paid relationship with Polymarket.