Kalshi handed down its first-ever lifetime ban to George Santos this Monday. The prediction market platform reported that the former congressman tried to alter the odds concerning his attendance at President Trump’s State of the Union address.
Kalshi says it has permanently banned former NY Congressman George Santos from its platform after he placed bets on whether he (Santos) would attend a State of the Union address, plus a penalty of ~$70,000 pic.twitter.com/a9sfcjI02o
— Brendan Pedersen (@BrendanPedersen) August 31, 2026
Santos made nearly $18,000 in profits by betting one way and then telling people he would show up. He then bet against himself at the last minute. The company says this was not a mistake but a plan to manipulate prices.
According to the Daily Wire, the platform found “reasonable cause to believe” Santos traded on his own attendance. The report states he made “false or misleading statements” to move the market. Santos was expelled from Congress in 2023, but this new ban stops him from ever betting there again.
The timeline shows a clear pattern of mixed messages. In February, Santos queried his X followers about choosing between a “muted serious suit to the SOTU” or a bedazzled one. The odds of him attending jumped right after that post.
He then posted that he would be there. “I’m going to be there for the State of the Union in the gallery, guys,” he wrote. But the day before the speech, he bet thousands of dollars that he would not attend.
On the day of the address, Santos told fans he was watching from an airport because of bad weather. He cashed out the same day with $3,400 in profits from that specific trade.
The Washington Examiner reports that Kalshi imposed a $71,356 penalty on top of the ban. The company says Santos failed to cooperate with their compliance investigation. This follows a July order from the Commodity Futures Trading Commission (CFTC) to surrender $17,569.98 in profits and pay a $17,500 civil penalty.
Santos did not stay quiet about the ban. He called the company “unserious” and claimed they missed their own deadlines. “By the way @Kalshi is such an unserious company it violates its own notices and deadlines lol,” he wrote on X.
Hey @Kalshi thanks for the lifetime ban from your gambling platform.
Let’s see how much longer you guys are around for. 💋
— George Santos (@Georgesantos) August 31, 2026
He also said on his podcast that people lost money, but others made it. “I guess people lost money,” he said. He added, “Some people made unexpected money.” Santos resolved the CFTC case without admitting or denying any wrongdoing.
The New York Post notes that the ban is the first of its kind for the platform. The Washington Times confirms the ban was issued over his manipulation of contracts tied to his own plans. The CFTC had already claimed he misrepresented himself online to influence the event he bet on.
According to the Washington Examiner, the trades ultimately netted Santos nearly $18,000.
