Federal regulators are investigating disgraced former Congressman George Santos for possible insider trading on the prediction market Kalshi, sources familiar with the matter told ABC News.
Kalshi flagged a series of wagers Santos made in February tied to his attendance at President Donald Trump’s State of the Union speech, the sources said.
Kalshi referred the suspicious trades to its regulator, the Commodity Futures Trading Commission, and to the Justice Department, the sources said.
According to sources, Santos placed bets on Kalshi that he would not attend the 2026 State of the Union address. But on Feb. 23, Santos posted, “I’ll be in the gallery” for the president’s speech. The next day, the night of the speech, he posted, “Watching SOTU from an airport tv was not part of the plan! FML.”
The CFTC’s enforcement division is now investigating and will decide whether Santos made tens of thousands of dollars by deceiving the public and affecting the odds, the sources said.
Source: Insider trading investigation launched into former Rep. George Santos: Sources – ABC News