--- title: "You Will Be Shocked to Hear That George Santos Is Under Investigation for Insider Trading on Kalshi" description: "Disgraced former Republican congressman George Santos is reportedly under investigation for insider trading on the prediction market Kalshi." date: "2026-06-05" modified: "2026-06-05" authors: - name: "Maggie Harrison Dupré" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/mharrison" url: "https://futurism.com/future-society/george-santos-investigation-insider-trading-kalshi" categories: - "Future Society" --- # You Will Be Shocked to Hear That George Santos Is Under Investigation for Insider Trading on Kalshi ![A photograph of former U.S. representative George Santos wearing a red hat embroidered with "$MAGA."]() *Phillip Faraone / Getty Images; Futurism* Gasp! Disgraced former Republican congressman George Santos is under federal investigation for insider trading on the prediction market Kalshi. Back in 2023, Santos was [expelled]() from Congress in disgrace for fabricating his entire political identity via a sprawling web of [bizarre lies](). Following his congressional expulsion, he was [sentenced]() to roughly seven years in prison for identity theft and wire fraud. But thanks to an [October 2025 pardon]() from President Donald Trump, Santos only served about three months of his sentence. Not even a year since receiving his pardon, however, Santos appears to be in hot legal water once again over his conduct on the controversial betting platform Kalshi. As [*NPR* reports](), Kalshi employees caught Santos betting that he'd be a no-show at February's State of the Union address — while actively tweeting to the masses about how he was definitely planning to be there. Kalshi referred Santos' behavior to the Commodity Futures Trading Commission (CFTC) and the Department of Justice, both of which are now investigating the former lawmaker, according to *NPR.* "I'm going to be there for the State of the Union," Santos declared in a video [published]() to X-formerly-Twitter in the lead-up to the event. By the time the video was published, the Poconos-dwelling former congressman had already bet against himself being there, per *NPR*. When he failed to eventually show up at the presidential address, Santos [took to X]() once again to blame his absence on a delayed flight. Neither the CFTC nor the Justice Department have publicly confirmed the existence of the investigations. In response to *NPR*, though, Santos appeared furious. When first reached with questions, Santos [told *NPR*]() that any insider trading investigation was "news to me," and declined to say whether he had a Kalshi account. After *NPR's* initial report was published, Santos repeatedly called *NPR* reporter Bobby Allyn, insisting that the report was incorrect and telling him that "this story is going to get you a gun in your face." When Allyn then asked Santos what he meant, the former lawmaker responded: "You know what I mean." In the wake of *NPR's* reporting, Kalshi rival Polymarket [cut ties with Santos](), who was one of [many paid influencers]() for the platform. Maybe — just maybe — Santos should consider steering clear of platforms as [ripe for fraud]() as prediction markets, given his track record. **More on prediction markets:** *[Sports Betting Scandals Are Tearing College Football Apart]()* ## Author At Futurism, I've reported extensively on the rise of AI as a cultural and business force shaping the media industry, and more broadly how those dynamics are changing how we all consume and share information and relate to one another. I'm also fascinated by public health policy and ethics, the role of emerging tech in politics and governance — and the powerful people and forces at those intersections — climate change, and the environment. My investigation on Sports Illustrated's use of AI-generated authors with fictional biographies won a 2024 Mirror Award for "Best Story on Media Coverage of Artificial Intelligence in Journalism and the Media" from Syracuse University's SI Newhouse School, I contributed to Niemen Lab's 2025 Predictions for Journalism series, and I've discussed my work for Futurism during appearances on NPR, CNN, the BBC, the CBC, and more. I grew up in rural Pennsylvania and attended the University of Massachusetts Amherst, where I played Division I field hockey for the Minutewomen as a midfielder. Since then, I've lived in New Orleans, Louisiana and Manhattan, New York. I spend my free time running, reading, perusing archival fashion, and searching for the world’s best negroni. I also have a debonair tuxedo cat, Westley, who's named after "The Princess Bride." ### Author social links [Bluesky]()