Kalshi Bestows Its First-Ever Lifetime Ban on George Santos

George Santos can boast about this without fibbing: He is the first person ever to receive a lifetime ban from the prediction market platform Kalshi. The company on Monday permanently barred the expelled New York congressman from its platform and hit him with a $71,356 penalty because of his profitable State of the Union bets, reports the Wall Street Journal. A federal regulator alleged that Santos made $17,000 by betting against his own attendance at President Trump's SOTU speech, after making public statements that misled the broader betting market into thinking the opposite. Santos previously paid $35,000 to settle the investigation without admitting wrongdoing.

"Hey @Kalshi thanks for the lifetime ban from your gambling platform," an unapologetic Santos wrote on X. "Let's see how much longer you guys are around for." Kalshi previously banned Santos for three years, and it says the lifetime ban stems from his failure to cooperate with its investigation. The platform says in the weeks leading up to the SOTU address, Santos made "false or misleading statements" suggesting he would be there, per CNBC. But he failed to make it, blaming travel logistics while making a profit on his own bets.