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Kalshi refers George Santos trading to federal authorities over Trump speech market

Enforcement & compliance

Kalshi referred former US congressman George Santos to the Department of Justice and the Commodity Futures Trading Commission over trades it considered suspicious before President Donald Trump’s 24 February State of the Union address, a person familiar with the investigation said. Santos told a media outlet he was unaware of an investigation and declined to say whether he had a Kalshi account. The agencies did not immediately respond to enquiries.

The referrals put prediction-market trading oversight and potential insider trading under federal scrutiny.

Earlier fines and penalties by CFTC and Commodity Futures Trading Commission

DateCompanyAmountStoryAppeal status
GeminiUSD 5,000,000CFTC and Gemini seek to overturn $5 million penaltyNot stated
Polymarket, KalshiNot statedSpain and Indonesia block Polymarket, with Spain also restricting KalshiNot stated
KalshiUSD 540Kalshi suspends and fines three candidates over election-market betsNot stated
KalshiNot statedNevada court orders Kalshi to block state residents by 4 MayNot stated
KalshiNot statedNevada Gaming Control Board seeks injunction against Kalshi over sports wageringNot stated

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