Permanent Ban
The prediction market platform Kalshi decided to permanently exclude George Santos from its operations. The American former congressman, born in Brazil, will no longer be able to place bets or access the tool after internal investigations pointed to signs of insider trading.
The controversial episode
Santos had publicly announced he would be present at Donald Trump's speech. Hours later, he claimed to have been stuck at an airport, preventing his participation. The change in version raised doubts among analysts and platform operators.
Judicial history
In August 2024, the politician pleaded guilty in a corruption case in New York. The charges involved financial fraud and lies about his background, which had already shaken his credibility in Congress.
Impact on the prediction market
Kalshi, which allows bets on political and economic events, has strengthened its rules against manipulation. The Santos case serves as a warning to users attempting to exploit confidential data on regulated platforms.
- Measures taken: lifetime ban and review of all transactions made by the former congressman.
- Market reaction: betting volumes on Santos-related events fell after the announcement.