Kalshi has permanently barred former New York Republican Rep. George Santos from its prediction-market platform, the company’s first lifetime ban, according to Wired, CoinDesk, and a Techmeme item citing the Wall Street Journal. The action stems from trades Santos allegedly placed on markets tied to whether he would attend President Trump’s State of the Union address in February 2026. Wired, citing Kalshi’s disciplinary notice, reports that Santos traded in those contracts and then made public statements about his expected attendance that Kalshi said were intended to move market prices. Some of those statements were false or misleading, according to the notice described by Wired. Wired reports that Kalshi also fined Santos $71,356 for violating its rules on insider trading and market manipulation. The exact fine amount is not included in the other provided summaries, but the broader finding is consistent with CoinDesk’s report that Kalshi banned Santos for manipulation and with the Wall Street Journal summary carried by Techmeme. The public sequence described by Wired is central to Kalshi’s case. The day before the address, Santos posted on X that he would be in the gallery for the State of the Union. During the speech, he posted that he was instead at an airport watching the address on television. Kalshi’s enforcement team flagged the trades, froze Santos’ account, and referred the case to the Commodity Futures Trading Commission, according to Wired. Techmeme’s Wall Street Journal summary says the CFTC alleged Santos made $17,000 by betting on his State of the Union appearance. Wired reports that Santos settled with the CFTC this summer for $35,000: a little over $17,500 in returned profit and a separate $17,500 penalty. Santos did not admit the CFTC’s allegations, findings, or conclusions as part of that settlement, Wired reports, citing a statement from his lawyer at the time. Through a legal representative, Santos declined to comment to Wired on the Kalshi action. On social media, however, he sarcastically thanked Kalshi for the lifetime ban and referenced the company’s regulatory fights with state authorities. The enforcement action lands as prediction markets are trying to establish credibility with regulators and users. CoinDesk framed the ban as part of the industry’s effort to show it can police bad behavior. Wired reports that Kalshi issued four other enforcement notices the same day and that Santos was the only penalized person who did not settle with the company. Santos’ case is unusually visible because the alleged traded event was tied directly to his own public conduct. It also comes after earlier legal troubles: Wired notes that Santos was expelled from Congress after a 2023 ethics investigation, later pleaded guilty in a federal case involving campaign donors and Congress, served time in federal prison, and was released in 2025 after President Trump commuted his sentence. Who benefits: Kalshi benefits if the action strengthens its argument that it can detect and punish manipulation on its platform. Other compliant market participants also benefit from clearer enforcement boundaries. Who's exposed: Public figures and candidates who trade on events connected to their own actions are more exposed to platform discipline and regulator referrals. Prediction-market platforms are also exposed if enforcement looks selective or insufficient.