Former NY GOP Rep. George Santos receives Kalshi's first lifetime ban after the CFTC alleged he made $17K by betting on his appearance at the State of the Union (Brian Schwartz/Wall Street Journal)

Former New York Republican Representative George Santos was issued Kalshi’s first lifetime ban after the Commodity Futures Trading Commission alleged he earned $17,000 by placing bets on his own appearance at the State of the Union address. The CFTC’s findings led Kalshi to prohibit him from any future participation on its platform.