The Associated Press

George Santos reported to prosecutors over suspicious Kalshi trades, AP source says

DOJ is investigating former congressman George Santos for insider trading on Kalshi

The Wall Street Journal

U Regulators Probing Former Rep George Santos For Insider Trading Deb46E52

New York Post

DOJ probing George Santos over insider trading after ex-rep's alleged Kalshi bets: report

Advocate.com

George Santos is under investigation for betting on George Santos

The Washington Times

Doj Investigating George Santos Insider Trading Kalshi

Event Horizon

Prediction Market Insider Trading Cases Are Getting More Absurd

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Kalshi

Georgesantos

David Miller

Michael Selig

Tarek Mansour

Nicholas Biase

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Olivia Chalos

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Morrison Foerster

Freshfields

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Securities Docket

"If the issue is some important geopolitical issue ... the set of people who know that, I would argue, is pretty small. I don't think they're trading on these sites."

“I think it will be difficult. You can’t criminally prosecute someone if the law is vague.”

"I'm not going to play speculation games with you, but I ⁠will tell you that we have a zero tolerance policy when it comes to fraud, manipulation and insider trading."

“That’s a crime. Because it’s a prediction market doesn’t insulate you from fraud.”

"The United States Department of Justice has also signaled that it will prosecute insider trading on prediction markets."

“I actually do expect the DOJ to prosecute some of these cases,”

"The CFTC has made clear that insider trading enforcement is a top priority."

"We will aggressively detect, investigate, and, where appropriate, prosecute insider trading in the prediction markets."

“I want to be crystal clear: to anyone who engages in fraud, manipulation, or insider trading in any of our markets: we will find you, and you will face the full force of the law."

Will someone be criminally prosecuted for insider trading on a prediction market in 2026?

The Department of Justice and the Commodity Futures Trading Commission have opened investigations into former Rep. George Santos over trades placed on prediction market Kalshi tied to his attendance at President Trump's Feb. 24 State of the Union address.

The Department of Justice and the Commodity Futures Trading Commission have opened investigations into former Rep. George Santos over trades placed on prediction market Kalshi tied to his attendance at President Trump's Feb. 24 State of the Union address.

Kalshi detected suspicious trades by Santos, froze his account and referred the matter to federal authorities. Sources familiar with the trades told NPR that Santos allegedly bet against his own attendance, profiting "tens of thousands of dollars."

Kalshi detected suspicious trades by Santos, froze his account and referred the matter to federal authorities. Sources familiar with the trades told NPR that Santos allegedly bet against his own attendance, profiting "tens of thousands of dollars."

The day before the address, Santos posted a video on X saying "I'm going to be there for the State of Union in the gallery, guys," but did not attend. During the speech, he posted that watching from an airport TV "was not part of the plan."

The day before the address, Santos posted a video on X saying "I'm going to be there for the State of Union in the gallery, guys," but did not attend. During the speech, he posted that watching from an airport TV "was not part of the plan."

When reached by NPR, Santos said the investigation was "news to me" and declined to confirm whether he held a Kalshi account, saying "I'm not saying yes, I'm not saying no." He did not respond to follow-up messages.

When reached by NPR, Santos said the investigation was "news to me" and declined to confirm whether he held a Kalshi account, saying "I'm not saying yes, I'm not saying no." He did not respond to follow-up messages.

Santos was expelled from the House in 2023 and later pleaded guilty to wire fraud and aggravated identity theft, receiving a sentence of more than seven years. Trump commuted his sentence last October after Santos had served roughly four months.

New York Times

Santos was expelled from the House in 2023 and later pleaded guilty to wire fraud and aggravated identity theft, receiving a sentence of more than seven years. Trump commuted his sentence last October after Santos had served roughly four months.

The Santos case is among several insider trading investigations involving prediction markets. In April, a U.S. Army Special Forces soldier was charged with using classified information to win more than $400,000 betting on the capture of Venezuelan President Nicolás Maduro.

The Santos case is among several insider trading investigations involving prediction markets. In April, a U.S. Army Special Forces soldier was charged with using classified information to win more than $400,000 betting on the capture of Venezuelan President Nicolás Maduro.

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George Santos reported to prosecutors over suspicious Kalshi trades

Santos Probed for Betting Against His Own SOTU Attendance

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Santos Probed for Betting Against His Own SOTU Attendance

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