The Department of Justice and the Commodity Futures Trading Commission (CFTC) of the United States opened an investigation against former congressman George Santos for suspicious trades on the prediction markets platform Kalshi, according to NPR.
Santos allegedly bet tens of thousands of dollars against his own attendance at President Trump’s State of the Union address in February, after posting a video on X announcing he would be present in the gallery. While Trump was speaking, Santos posted from an airport, and the odds on his attendance collapsed.
Kalshi detected the trades, froze the former legislator’s account and referred the case to regulators. The platform requested to interview him as part of its internal investigation, but he reportedly avoided those requests. When contacted by NPR, he responded: “Well, that’s news to me.”
The case adds to a series of investigations into the alleged use of insider information in prediction markets. In April, federal prosecutors charged an Army Special Forces soldier over approximately $409,000 in gains on Polymarket linked to the capture of Venezuelan leader Nicolás Maduro.
Source: https://www.npr.org/2026/06/02/nx-s1-5843371/george-santos-kalshi-insider-trading-investigation
Disclaimer: Crypto Economy Flash News are based on verified public and official sources. Their purpose is to provide fast, factual updates about relevant events in the crypto and blockchain ecosystem.
This information does not constitute financial advice or investment recommendation. Readers are encouraged to verify all details through official project channels before making any related decisions
