Kalshi permanently bans George Santos over self-referential bet

Kalshi has permanently barred former congressman George Santos from trading, the prediction market's first-ever lifetime ban. He must pay a $71,000 fine over a contract on his own State of the Union attendance, after earlier settling with the CFTC for $35,000.

• Kalshi issued its first permanent trading ban
• Kalshi fine is $71,000; CFTC settlement was $35,000
• Santos traded a contract on his own State of the Union attendance
• CFTC said his public statements moved the contract price