Former Congressman Santos Settles CFTC Case for $35,000 Over Prediction Market Manipulation

George Santos pays $35,000 to settle CFTC charges of manipulating Kalshi prediction contracts via public statements, having profited $17,500 without admitting wrongdoing.

Woofun AI reports that former US Congressman George Santos has reached a settlement with the US Commodity Futures Trading Commission (CFTC) regarding manipulative trading behavior on Kalshi. The regulator alleged that Santos influenced the price of a prediction contract concerning his attendance at the February 2026 State of the Union address by making public comments while holding positions. For instance, he posted on X about his attire while holding a "Yes" position, causing prices to rise before he closed the trade for profit. The CFTC stated that Santos engaged in this conduct intentionally or recklessly, profiting over $17,500 from trading based on market reactions to his updates on travel plans. As part of the settlement, Santos is required to pay $35,000 but neither admitted nor denied the findings. His attorney, Joseph W. Murray, noted that this contract marked Santos's first entry into prediction market betting.