Banning George Santos for life goes further than necessary — the CFTC settlement already handled the punishment, and Kalshi's permanent exclusion sets a troubling precedent. Targeting bad actors is the right move, but blanket overreactions threaten the broader health of prediction markets. Keep the market open, enforce the rules and let the system work as designed.
Kalshi's lifetime ban on Santos is the only defensible call — one high-profile insider trading case can torch the regulatory goodwill prediction markets depend on. Letting a disgraced politician trade on political outcomes makes the whole platform look rigged, and that perception is fatal to legitimacy. Strict exclusion is not an overreaction; it is the price of building a serious exchange.
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