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DOJ investigating former Rep. George Santos for insider trading on Kalshi

politicsJun 2, 2026243,047

The Justice Department opened a probe into former Rep. George Santos for insider trading after he placed bets on the prediction market Kalshi over whether he would appear at the State of the Union address. Kalshi detected the trades, froze Santos's accounts, and referred the activity to the Commodity Futures Trading Commission and the Justice Department, and filings indicate Santos profited in the tens of thousands of dollars. The investigation tests how prosecutors and regulators apply insider-trading and commodity laws to prediction markets and whether a former lawmaker violated federal trading and disclosure rules.

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