Justice Department Investigates Disgraced Former Congressman George Santos For Alleged Kalshi Insider Trading: Report

The Department of Justice has opened an investigation into nan disgraced erstwhile congressman George Santos for alleged insider trading connected nan prediction marketplace Kalshi, according to a caller report.

Fresh retired of situation for wire fraud and personality theft, Santos allegedly began a caller strategy by fixing nan likelihood connected a stake of whether he would be President Donald Trump’s State of nan Union reside successful February, unnamed sources successful an NPR study published Tuesday suggested.

Santos insisted that he was unaware of immoderate investigation into his alleged Kalshi activity, telling NPR, "Well, that's news to me.”

The ex-Republican New York typical posted connected X a time earlier Trump’s reside to fto his followers cognize that he would beryllium astatine nan U.S. Capitol for it.

More than $15.5 cardinal worthy of bets were placed connected Kalshi complete nan mobility of who would be nan State of nan Union. When Santos confirmed that he would beryllium astatine Trump’s speech, nan likelihood of his attendance spiked, according to NPR.

But nan adjacent time Santos signaled he wouldn’t beryllium astatine nan State of nan Union, writing connected X that he would alternatively beryllium watching nan reside from an airdrome TV. He said it was “not portion of nan plan!”

Odds of Santos’ attendance astatine Trump’s reside past tumbled, NPR reported.

Before his announcement, Santos had placed bets connected Kalshi that he was not going to be nan State of nan Union, 3 group pinch nonstop knowledge of his trades told NPR.

After Kalshi detected Santos’ trades and referred nan lawsuit to nan DOJ and nan Commodity Futures Trading Commission, which regulates nan U.S. derivatives markets, nan 2 agencies opened abstracted investigations into nan matter, according to 1 of NPR’s sources.

A root pinch knowledge of nan matter confirmed NPR’s reporting to The Independent.

The Independent has reached retired to Santos’ team, nan DOJ and nan CFTC for comment.

A spokesperson for Kalshi declined to comment.

Santos pleaded blameworthy successful August 2024 to ligament fraud and aggravated personality theft, aft being indicted connected a slew of charges successful October 2023 for allegedly filing fraudulent fundraising reports pinch nan Federal Election Commission to person financial support for his 2022 legislature run and charging run contributors’ in installments cards without authorization.

Not moreover 2 months aft his indictment, Santos was expelled from Congress.

Santos was sentenced to much than 7 years successful situation successful April 2025, but Trump announced past October that he had commuted nan erstwhile congressman’s sentence.

“George Santos was somewhat of a ‘rogue,’ but location are galore rogues passim our Country that aren’t forced to service 7 years successful prison,” Trump wrote connected Truth Social astatine nan time.