Kalshi has issued its first-ever lifetime ban against George Santos for manipulating prediction markets. The platform says he made over $17,000 by betting on his own appearance at the State of the Union. This is not a slap on the wrist. It is a permanent removal from the platform for breaking the rules.
According to the Daily Wire, the former congressman illegally placed large bets in February 2026. He wagered on whether he would attend President Donald Trump’s address. The Washington Examiner reports the company also imposed a $71,356 penalty after finding he tried to move the market prices with his own words. Santos is the first person to ever receive this punishment from Kalshi.
The compliance team found he made false statements to change the odds. He told followers he would wear a “bedazzled one” suit to the event. This post caused the likelihood of his attendance to spike. He cashed out $3,400 in profits that same day according to the Daily Wire. Santos then bet thousands that he would not show up just days later.
Kalshi says it has permanently banned former NY Congressman George Santos from its platform after he placed bets on whether he (Santos) would attend a State of the Union address, plus a penalty of ~$70,000 pic.twitter.com/a9sfcjI02o
— Brendan Pedersen (@BrendanPedersen) August 31, 2026
On the day of the address, he claimed bad weather forced him to watch from an airport. He told his followers he had to view the speech “from an airport tv.” The Washington Examiner notes this excuse was not part of his original plan. This contradiction is what triggered the ban.
The Kalshi Compliance Department said they found reasonable cause to believe he engaged in trading activity related to his attendance. According to the report, he started issuing public remarks about attending the event to sway Yes and No contract prices. This was not just bad luck. It was a calculated move to make money off his own lies.
The department determined his actions were designed to manipulate the price of the contracts he planned to buy. The Commodity Futures Trading Commission also investigated him. They claimed he misrepresented himself online in ways that influenced the situation he was betting on.
Santos tried to fight back on social media. On X, he wrote that @Kalshi is such an unserious company it violates its own notices and deadlines lol, by the way. The Washington Examiner says he failed to cooperate with the investigation. This lack of cooperation led to the permanent ban and the extra financial penalty.
Hey @Kalshi thanks for the lifetime ban from your gambling platform.
Let’s see how much longer you guys are around for.
— George Santos (@Georgesantos) August 31, 2026
Before the settlement, Santos dismissed the accusations on his podcast. He shrugged off the harm by saying, “I guess people lost money.” He added, “Some people made unexpected money.” The Washington Examiner notes he settled the CFTC case without admitting or denying wrongdoing. The federal regulator ordered him to surrender $17,569.98 in profits and pay a $17,500 civil penalty.
Santos agreed to a three-year ban from trading on prediction markets as part of his CFTC settlement. But Kalshi went further. They decided he could never use their platform again. The Washington Times confirms this is a permanent ban over betting on his own attendance.
Santos made nearly $18,000 total from these trades according to the Washington Examiner. He took advantage of regular people who believed his posts. He used his fame to rig the game for his own profit. The Daily Wire reports the trades ultimately netted him nearly that amount. This is not a victimless crime. It hurts the integrity of the market for everyone else.
The Washington Examiner reports the ban is Kalshi’s first lifetime ban.
