Kalshi bans ex-Congressman George Santos for life after concluding he likely was insider trading

NEW YORK (AP) – The online prediction market platform Kalshi remarked Monday that it has permanently banned former U.S.

What happened

After its Compliance Department discovered reasonable cause to believe Santos engaged in insider trading, contributing to speculation over whether he would attend the address before turning a $17, 839 profit on his trading activity when he did not, the firm unveiled the ban on Santos, a Republican.

Kalshi spokesperson Elisabeth Diana remarked it was the first permanent ban in the company's history. She remarked those affected by four other new enforcement cases unveiled Monday would be banned from trading temporarily since they cooperated with Kalshi's probe.

The bottom line

In short, kalshi bans ex-Congressman George Santos for life after concluding he likely was is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.