Washington (USA), 31 Aug. (LaPresse) – Online prediction platform Kalshi announced that it has permanently banned former Republican congressman George Santos, after concluding that the former member of Congress likely engaged in insider trading by profiting from betting on his attendance at the State of the Union address, collecting $17,839. Kalshi spokesperson Elisabeth Diana said this is the first permanent ban in the company’s history. Kalshi also imposed a fine of more than $71,000. Santos, who was convicted of fraud, had repeatedly expressed his intention to attend the State of the Union address, which was to take place just four months after President Donald Trump granted him a pardon in a case that had led to his expulsion from the US House of Representatives. On the eve of Trump’s address, Kalshi had estimated a 75% probability that Santos would attend the event. Then, a few minutes after the speech began, Santos posted on X that he had been detained at the airport. Immediately, several social media users accused him of orchestrating another scam.
US, Kalshi bans ex-GOP congressman Santos for life: “Guilty of insider trading”
Washington (USA), 31 Aug. (LaPresse) – Online prediction platform Kalshi announced that it has permanently banned former Republican congressman George Santos, after concluding that the former member of Congress likely engaged in insider trading by profiting from betting on his attendance at the State of the Union address, collecting $17,839. Kalshi spokesperson Elisabeth Diana said this is the first permanent ban in the company’s history. Kalshi also imposed a fine of more than $71,000. Santos, who was convicted of fraud, had repeatedly expressed his intention to attend the State of the Union address, which was to take place just four months after President Donald Trump granted him a pardon in a case that had led to his expulsion from the US House of Representatives. On the eve of Trump’s address, Kalshi had estimated a 75% probability that Santos would attend the event. Then, a few minutes after the speech began, Santos posted on X that he had been detained at the airport. Immediately, several social media users accused him of orchestrating another scam.