Kalshi permanently bans former Congressman George Santos over State of the Union betting violations

A regulatory body announced a disciplinary action two months after the Commodity Futures Trading Commission (CFTC) settled charges against Santos. The move follows the CFTC’s recent resolution of allegations that Santos had engaged in improper trading practices, which the commission settled with a civil penalty and compliance requirements.

The new action, issued by the relevant authority, targets a different entity that was found to have violated market‑conduct rules. The investigation uncovered evidence of repeated breaches of disclosure obligations and the use of misleading communications to influence market participants. In response, the regulator imposed a suspension of trading privileges for the period of the investigation and mandated the implementation of enhanced monitoring procedures.

This development underscores the ongoing scrutiny of market participants by U.S. regulators. By enforcing penalties and requiring corrective measures, the authorities aim to preserve market integrity and protect investors from deceptive practices.