DOJ investigates George Santos for alleged insider trading on Kalshi prediction market
By
Bobby Allyn
Hot, fresh, and worth queueing round the block for.
Summary
The Department of Justice is investigating former Republican congressman George Santos for alleged insider trading on the prediction market platform Kalshi. Santos, who was released from federal prison in February, posted a video on X expressing excitement about attending President Trump's State of the Union address. Traders on Kalshi had placed millions of dollars in bets on who would attend the event, and Santos allegedly used his non-public knowledge of his own attendance to profit from the bets. This has prompted a federal investigation into potential insider trading violations.
Key quotes
· 3 pulledI'm going to be there for the State of Union in the gallery, guys
The Department of Justice is investigating whether Santos used non-public information about his own attendance to profit on Kalshi
Traders on the prediction market site Kalshi were placing millions of dollars worth of bets on who would attend
You might also wanna read
White House Staff Warned Against Using Prediction Markets for Gambling
White House staff have been warned not to use prediction markets for gambling, following an email from the White House counsel's office. The
bbc.co.uk·2mo ago
Federal Judge Temporarily Blocks Arizona's Prosecution of Prediction Market Kalshi
A federal judge has temporarily barred Arizona from enforcing its gambling laws against prediction market operator Kalshi, which faces 20 mi
deadstack.net·6mo ago
Prediction Markets Face Insider Trading Allegations Over Iran-Related Bets
The article discusses allegations of insider trading and controversy surrounding prediction markets like Polymarket and Kalshi, particularly
morningstar.com·3mo agoKalshi CEO expects US DOJ to prosecute insider trading cases
CNN Partners with Prediction Market Kalshi, Signaling Gambling's Expansion into News Media
CNN has partnered with Kalshi, a federally regulated prediction market that allows Americans to bet on current events including sports, elec
newyorker.com·6mo ago
BBC Investigation Finds Unusual Trading Patterns Before Trump Administration Announcements
The BBC investigation reveals patterns of unusual trading activity occurring just before major announcements by former US President Donald T
bbc.com·1mo ago