DOJ Probes George Santos for Alleged Insider Trading Activities
WHO:
CNN - George Santos, former New York Representative, and President Trump.
NY Post - George Santos, former New York lawmaker and New Jersey prison inmate.
WHAT:
ABC News - Federal regulators are investigating George Santos for possible insider trading on the prediction market Kalshi.
NY Post - Santos allegedly placed a bet on Kalshi that he wouldn’t attend Trump’s address to Congress.
Fast Company - Kalshi reported Santos to the Department of Justice after detecting suspicious trades made by him ahead of Trump’s February 24 speech.
Newsweek - Santos denied insider trading claims while calling a DOJ inquiry “preposterous” and vowed to cooperate.
CNN - Traders on Kalshi placed millions of dollars in bets on attendees of President Trump's speech, including Santos, Barron Trump, Jack Hughes, and Nick Shirley.
AP - Santos posted on X minutes into Trump's speech that he had been waylaid at the airport, leading to accusations of running another scheme.
AP - In March, Santos addressed the complaints on his podcast, stating, "I guess people lost money. Some people made unexpected money. That’s to show you how fragile these markets are."
CNN - Santos allegedly placed a bet on Kalshi that he wouldn’t attend Trump’s address to Congress, which was reported to the Justice Department after he boasted about attending.
AP - Kalshi detected suspicious trades made by Santos ahead of Trump’s February 24 speech and referred the matter to the Department of Justice and the Commodity Futures Trading Commission.
AP - The CFTC is investigating the matter, confirming that they are looking into Santos' trading activities.
AP - Santos told NPR that he wasn’t aware of the investigation and declined to say whether he had a Kalshi account, stating, “I’m not saying yes, I’m not saying no.”
AP - On the eve of Trump’s speech, Kalshi put the odds of Santos attending at close to 75%.
AP - Santos commented on his podcast that "I guess people lost money. Some people made unexpected money. That’s to show you how fragile these markets are."
AP - Santos was sentenced to seven years in prison after pleading guilty to fraud and identity theft in 2024, but he served just 84 days before being released by Trump.
CNN - Santos had publicly stated he would attend President Trump's State of the Union address but ultimately did not show up.
AP - Santos posted on X minutes into Trump's speech that he had been waylaid at the airport.
AP - The investigation was prompted by Santos' public statements about attending the State of the Union, which occurred just four months after he was granted clemency by Trump in a fraud case.
AP - The referral to the Department of Justice was prompted by suspicious trades made by Santos ahead of Trump’s speech.
CNN - The investigation is prompted by suspicious trading activity related to Santos' public statements about attending a significant event.
CNN - Prediction markets like Kalshi and Polymarket have seen increased scrutiny, with lawmakers urging platforms to enhance measures against insider trading as their businesses have expanded.
CNN - Prediction markets like Kalshi and Polymarket have seen increased scrutiny, with lawmakers urging platforms to enhance measures against insider trading as their businesses have expanded.
CNN - Prediction markets like Kalshi and Polymarket have seen increased scrutiny, with lawmakers urging platforms to enhance measures against insider trading as their businesses have expanded.
AP - Prediction markets, including Kalshi, have drawn scrutiny as their businesses have expanded, with some lawmakers urging the platforms to do more to guard against insider trading.
CNN - Prediction markets like Kalshi are treated like commodity futures and regulated by the federal government.
CNN - Santos allegedly placed a bet on Kalshi that he wouldn’t attend Trump’s address to Congress, which was reported to the Justice Department after he boasted about attending.
AP - Kalshi detected suspicious trades made by Santos ahead of Trump’s February 24 speech and referred the matter to the Department of Justice and the Commodity Futures Trading Commission.
AP - The CFTC is investigating the matter, confirming that they are looking into Santos' trading activities.
AP - Santos told NPR that he wasn’t aware of the investigation and declined to say whether he had a Kalshi account, stating, “I’m not saying yes, I’m not saying no.”
AP - On the eve of Trump’s speech, Kalshi put the odds of Santos attending at close to 75%.
AP - Santos commented on his podcast that "I guess people lost money. Some people made unexpected money. That’s to show you how fragile these markets are."
AP - Santos was sentenced to seven years in prison after pleading guilty to fraud and identity theft in 2024, but he served just 84 days before being released by Trump.
CNN - Santos had publicly stated he would attend President Trump's State of the Union address but ultimately did not show up.
AP - Santos posted on X minutes into Trump's speech that he had been waylaid at the airport.
AP - The investigation was prompted by Santos' public statements about attending the State of the Union, which occurred just four months after he was granted clemency by Trump in a fraud case.
AP - The referral to the Department of Justice was prompted by suspicious trades made by Santos ahead of Trump’s speech.
CNN - The investigation is prompted by suspicious trading activity related to Santos' public statements about attending a significant event.
CNN - Santos allegedly placed a bet on Kalshi that he wouldn’t attend Trump’s address to Congress, which was reported to the Justice Department after he boasted about attending.
AP - Kalshi detected suspicious trades made by Santos ahead of Trump’s February 24 speech and referred the matter to the Department of Justice and the Commodity Futures Trading Commission.
AP - The CFTC is investigating the matter, confirming that they are looking into Santos' trading activities.
CNN - Santos allegedly placed a bet on Kalshi that he wouldn’t attend Trump’s address to Congress.
AP - Kalshi reported Santos to federal prosecutors after he boasted he’d be going to President Trump’s State of the Union address, then bet against his own attendance.
AP - The Justice Department is investigating the matter.
AP - Santos told NPR that he wasn’t aware of the investigation and declined to say whether he had a Kalshi account, stating, “I’m not saying yes, I’m not saying no.”
AP - In April, a soldier involved in the military operation to capture Venezuelan President Nicolás Maduro was charged with using classified information to win more than $400,000 predicting the date of his capture on Polymarket.
AP - In April, the Senate approved a bipartisan resolution to prevent its own members from using prediction markets.
CNN - Santos had publicly stated he would attend President Trump's State of the Union address but ultimately did not show up.
AP - Santos posted on X minutes into Trump's speech that he had been waylaid at the airport.
AP - On the eve of Trump's speech, Kalshi put the odds of Santos attending at close to 75%.
AP - Santos commented on his podcast that "I guess people lost money. Some people made unexpected money. That’s to show you how fragile these markets are."
CNN - Santos allegedly placed a bet on Kalshi that he wouldn’t attend Trump’s address to Congress.
AP - Kalshi reported Santos to federal prosecutors after he boasted he’d be going to President Trump’s State of the Union address, then bet against his own attendance.
AP - On the eve of Trump’s speech, Kalshi put the odds of Santos attending at close to 75%.
AP - Santos was sentenced to seven years in prison after pleading guilty to fraud and identity theft in 2024, but he served just 84 days before being released by Trump.
CNN - Santos is under investigation for alleged insider trading related to his trading on prediction markets.
CNN - Kalshi identified suspicious activity in a market regarding whether Santos would attend President Trump’s speech.
NY Post - Santos allegedly placed a bet on Kalshi that he wouldn’t attend Trump’s address to Congress.
CNN - Traders placed millions of dollars in bets on attendees of President Trump’s speech, including Santos.
CNN - Kalshi froze Santos' account and referred the matter to the Justice Department and the Commodity Futures Trading Commission (CFTC).
CNN - The CFTC is investigating the matter.
WHERE:
CNN - The investigation involves activities on the prediction site Kalshi.
WHEN:
CNN - Santos was serving a seven-year sentence for aggravated identity theft and wire fraud charges related to his 2022 midterm campaign when Trump commuted his sentence last year.
CNN - Santos spent less than three months in prison.
WHY:
AP - The investigation was prompted by Santos' public statements about attending the State of the Union, which occurred just four months after he was granted clemency by Trump in a fraud case.
AP - The investigation was prompted by Santos' public statements about attending the State of the Union, which occurred just four months after he was granted clemency by Trump in a fraud case.
AP - The investigation was prompted by Santos' public statements about attending the State of the Union, which came just four months after he was granted clemency by Trump in a fraud case.
AP - The referral to the Department of Justice was prompted by suspicious trades made by Santos ahead of Trump’s speech.
CNN - The investigation is prompted by suspicious trading activity related to Santos' public statements about attending a significant event.
HOW:
ABC News - Prediction markets, including Kalshi, have drawn scrutiny as their businesses have expanded, with some lawmakers urging the platforms to do more to guard against insider trading.
AP - Prediction markets, including Kalshi and Polymarket, have drawn scrutiny as their businesses have expanded, with some lawmakers urging the platforms to do more to guard against insider trading.
CNN - Prediction markets like Kalshi and Polymarket have seen increased scrutiny, with lawmakers urging platforms to enhance measures against insider trading as their businesses have expanded.
CNN - Prediction markets like Kalshi and Polymarket have seen increased scrutiny, with lawmakers urging platforms to enhance measures against insider trading as their businesses have expanded.
CNN - Prediction markets like Kalshi and Polymarket have seen increased scrutiny, with lawmakers urging platforms to enhance measures against insider trading.
AP - Prediction markets, including Kalshi, have drawn scrutiny as their businesses have expanded, with some lawmakers urging the platforms to do more to guard against insider trading.
CNN - Prediction markets like Kalshi are treated like commodity futures and regulated by the federal government.
(UPDATED June 3, 2026 21:55 UTC)
Federal regulators are investigating George Santos for possible insider trading related to the prediction market Kalshi, where he allegedly placed a bet on not attending Trump’s upcoming address to Congress. Kalshi reported Santos to the Department of Justice after noticing suspicious trades he made ahead of Trump’s speech on February 24, and Santos has denied the insider trading claims, calling the inquiry “preposterous” while promising to cooperate. As prediction markets like Kalshi grow in popularity, they have faced increased scrutiny, with some lawmakers urging these platforms to enhance measures against insider trading.
--
(UPDATED June 3, 2026 20:08 UTC)
Traders on Kalshi have placed millions of dollars in bets on attendees of President Trump's speech, including notable figures like Santos and Barron Trump. Just minutes into the speech, Santos posted on X that he had been delayed at the airport, which has led to fresh accusations regarding his integrity. This scrutiny comes as prediction markets like Kalshi and Polymarket face increasing pressure from lawmakers to implement stronger measures against insider trading.
--
(UPDATED June 3, 2026 18:28 UTC)
Santos is under investigation for allegedly placing a bet on Kalshi that he wouldn’t attend President Trump’s address to Congress, a claim he made public despite ultimately not showing up. The Commodity Futures Trading Commission is looking into suspicious trading activities linked to Santos, who has denied knowledge of the investigation and has been evasive about whether he has a Kalshi account. This scrutiny comes as lawmakers are increasingly urging prediction markets like Kalshi and Polymarket to enhance their measures against insider trading amid their growing popularity.
--
(UPDATED June 3, 2026 16:29 UTC)
Santos is under investigation for allegedly placing a bet on Kalshi that he wouldn’t attend President Trump’s address to Congress, despite having publicly stated he would be there. The Commodity Futures Trading Commission is looking into suspicious trades made by Santos ahead of Trump’s February 24 speech, which led to a referral to the Department of Justice. Santos, who previously served a brief prison sentence after pleading guilty to fraud, claimed he was delayed at the airport during Trump’s speech, while lawmakers are calling for stricter regulations on prediction markets like Kalshi to prevent insider trading.
--
(UPDATED June 3, 2026 14:28 UTC)
Santos is under investigation by the Department of Justice and the Commodity Futures Trading Commission after allegedly placing a bet on Kalshi that he wouldn’t attend Trump’s address to Congress, despite boasting about his attendance. The CFTC has confirmed they are looking into Santos' trading activities, which were flagged by Kalshi due to suspicious trades made ahead of Trump’s speech on February 24. This scrutiny comes as lawmakers are urging prediction markets like Kalshi and Polymarket to strengthen their measures against insider trading, especially following Santos' public statements about attending the State of the Union just months after receiving clemency from Trump in a fraud case.
--
(UPDATED June 3, 2026 12:36 UTC)
The Justice Department is currently investigating allegations involving Santos, who reportedly placed a bet on Kalshi that he wouldn’t attend President Trump’s upcoming State of the Union address, despite boasting about his attendance. Kalshi has reported Santos to federal prosecutors, and when asked about the investigation, he told NPR that he wasn’t aware of it and declined to confirm whether he has a Kalshi account. This comes on the heels of a bipartisan resolution passed by the Senate in April aimed at preventing its members from using prediction markets, following a separate incident where a soldier was charged for using classified information to profit from predicting the capture of Venezuelan President Nicolás Maduro.
--
(UPDATED June 3, 2026 08:40 UTC)
In a surprising turn of events, Santos, who had publicly committed to attending President Trump's State of the Union address, ultimately did not show up, citing airport delays just minutes into Trump's speech. This absence raised eyebrows, especially since prediction markets had placed the odds of his attendance at nearly 75% the day before, leading Santos to comment on his podcast about the volatility of these markets. Meanwhile, lawmakers are calling for stricter regulations on prediction platforms like Kalshi and Polymarket, particularly in light of Santos' recent clemency from Trump in a fraud case.
--
(UPDATED June 3, 2026 06:36 UTC)
Santos has found himself in hot water after allegedly placing a bet on Kalshi that he wouldn’t attend President Trump’s upcoming address to Congress, despite boasting about going. The situation escalated when Kalshi reported Santos to federal prosecutors due to suspicious trades made ahead of Trump’s speech, which is set for June 13, 2026, with odds of Santos attending initially estimated at close to 75%. This incident highlights the growing scrutiny on prediction markets like Kalshi, as lawmakers call for stronger measures to prevent insider trading in these platforms.
--
(UPDATED June 3, 2026 01:54 UTC)
George Santos, a New York lawmaker who recently served time in prison, is now under investigation for alleged insider trading linked to his activities on the prediction market Kalshi. The investigation was sparked by suspicious trading patterns concerning whether Santos would attend President Trump’s upcoming address to Congress, with traders placing millions of dollars in bets on his attendance. Kalshi has since frozen Santos' account and referred the matter to the Justice Department and the Commodity Futures Trading Commission, which is now looking into the situation.