Federal agencies investigate former Rep. George Santos for allegedly profiting $10,000+ on prediction market bets tied to his State of the Union attendance.
The Commodity Futures Trading Commission and Department of Justice have launched investigations into trades former Rep. George Santos placed on prediction market Kalshi. Santos allegedly bet against his own attendance at President Trump’s February 24, 2026, State of the Union address while publicly stating he would attend, earning tens of thousands of dollars in profit.
Kalshi flagged the activity, suspended Santos’ account, and referred the case to regulators. The trades occurred after Santos tweeted he would be present, which may have influenced market odds. The probes follow a broader crackdown on insider trading concerns in prediction markets, with prior cases leading to criminal charges.
No immediate market reaction was reported, though the case highlights regulatory scrutiny of prediction platforms.