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Kalshi permanently bans former congressman George Santos, son of BraziliansPhoto by EqualStock IN on Pexels
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Kalshi permanently bans former congressman George Santos, son of Brazilians

oglobo31 August 2026 at 18:09

The prediction markets platform Kalshi permanently banned George Santos, former New York congressman who is the son of Brazilians. The company also imposed a fine of $71,356 (R$370.5 thousand) after finding evidence that he engaged in insider trading. This is the first ban of this type imposed by the platform.

Santos was accused of insider trading after making bets on Kalshi about the possibility of attending President Donald Trump's State of the Union address, held in February. Before the event, he posted on social media that he intended to attend the address, but ended up not showing up.

Kalshi's compliance department established reasonable grounds to believe that George Santos made trades based on information that was not publicly available. The platform was co-founded by Brazilian Luana Lopes Lara.

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