Kalshi bans George Santos for life over State of the Union bets

Kalshi permanently banned former Rep. George Santos after determining he placed a $17,839 wager on his attendance at the State of the Union, violating its rule against trading on events a participant can influence, and fined him $71,356. The company also suspended candidates Ben Midgley, Laurie Buckhout and former gubernatorial hopeful Stephen Cloobeck for betting on their own races, and Santos previously settled a CFTC case with a $35,000 payment.