Kalshi Is Imposing Its First-Ever Lifetime Ban on Former Rep. George Santos. Here’s Why

In addition to permanently banning Santos from Kalshi, the company also levied a fine of $71,356 against him.

Santos responded to the news on Monday, saying in a post on X: “Hey @Kalshi thanks for the lifetime ban from your gambling platform. Let’s see how much longer you guys are around for.”

In another post on X, Santos alleged that Kalshi “violates its own notices and deadlines,” accusing the company of giving him a 30-day notice on Aug. 7 but announcing the lifetime ban ahead of the deadline.

Robert DeNault, head of enforcement at Kalshi, said on social media that the company was temporarily suspending other individuals over allegations of insider trading. He added, though, that Santos was the only person who didn’t cooperate with Kalshi’s investigation into the alleged violations.

Kalshi’s penalties against Santos come after the Commodity Futures Trading Commission fined the former Congressman more than $35,000 in July related to trading on his attendance at Trump’s State of the Union address. The commission alleged that Santos engaged “in manipulative activity in an event contract — whose underlying event Santos controlled — designed to affect the price of the swap.” Santos didn’t admit to the allegations, but he agreed to pay the penalties.