Kalshi's Lifetime Ban: A Cautionary Tale for Traders and Regulators Kalshi, a prediction market exchange, has imposed its first ever lifetime ban on former Representative George Santos, citing "reasonable cause to believe" that he participated in insider trading.
The case against Santos revolves around his alleged manipulation of Yes or No contracts related to his attendance at President Donald Trump's State of the Union address.
According to Kalshi, Santos made a series of large trades in these markets while simultaneously making public statements about his plans to attend the event – statements that were ultimately proven false.