DOJ investigates George Santos for Kalshi insider trading
The DOJ is probing George Santos for insider trading on Kalshi. Suspicious bets were flagged regarding his attendance at the State of the Union address.
The United States Department of Justice is investigating former congressman George Santos for potential insider trading on Kalshi. The probe follows suspicious activity involving contracts tied to Santos’s own attendance at the State of the Union address. This investigation signals a shift toward stricter federal oversight of prediction markets as they face rising manipulation risks.
### Suspicious Bets on Personal Attendance Kalshi reported Santos to federal authorities after detecting trades that appeared to leverage non-public information. A person familiar with the matter said Santos posted publicly about attending the State of the Union, which drove up the value of "no" contracts. After he failed to attend the address, Santos placed bets against his own appearance in the market.
