George Santos Responds to Kalshi Insider Trading Allegations

Former New York Republican Representative George Santos responded to a report by NPR regarding an investigation by the Department of Justice (DOJ) into allegations of insider trading related to the Kalshi prediction market. The report claims Santos placed bets on his attendance at the State of the Union address in February, despite being expelled from Congress in December 2023. Santos allegedly profited tens of thousands of dollars from these bets, although the exact amount remains undisclosed. A DOJ official confirmed to the Washington Examiner that there is no ongoing investigation into Santos. In a social media post, Santos called the allegations 'preposterous' and stated he is willing to provide information to any agency that inquires. He mentioned that his legal team is in contact with the DOJ regarding the reported inquiry. Additionally, the Commodity Futures Trading Commission is reportedly investigating Santos after Kalshi froze his account and reported the case to federal authorities. Santos has previously faced legal issues, including federal charges of aggravated identity theft and wire fraud, for which he pleaded guilty and began serving a prison sentence that was later commuted by former President Donald Trump.