17 hours ago
The recently-incarcerated erstwhile congressman allegedly placed bets connected himself, past acted to guarantee he won.
The Department of Justice (DOJ) and nan Commodity Futures Trading Commission (CFTC) person opened investigations into erstwhile congressman George Santos regarding alleged insider trading, according to NPR. The alleged strategy was some ridiculous and brazen, a hallmark of Santos.
Here's really it reportedly went down. Santos allegedly gamed nan betting marketplace Kalshi by making a video indicating he would beryllium attending President Trump's State of nan Union reside backmost successful February. "I'm going to beryllium location for nan State of Union successful nan gallery, guys," he said successful a video originally posted to X.
State of nan national update! pic.twitter.com/y9nrYpCyU4
— George Santos (@Georgesantos) February 23, 2026
Betters connected Kalshi and Polymarket had been having a section time predicting who would be nan SOTU address. The Santos video sent likelihood of his attendance soaring. This intends that group who stake against his quality would guidelines to make a beautiful penny. You cognize wherever this is going.
He didn't show. "Watching SOTU from an airdrome tv was not portion of nan plan! FML," Santos wrote connected X. He posted this arsenic Trump spoke, truthful nan likelihood he would look astatine nan reside plummeted.
Watching SOTU from an airdrome tv was not portion of nan plan! FML 😡🤬
— George Santos (@Georgesantos) February 24, 2026
However, location was thing he didn't opportunity connected X. Santos had allegedly placed bets connected Kalshi that he wasn't going to attend, according to 3 group pinch nonstop knowledge of nan trades who said to NPR. These sources opportunity he made tens of thousands of dollars while stuck watching that airdrome TV. "FML" indeed.
Kalshi detected nan trades, froze his relationship and referred nan incident to nan DOJ and nan CFTC. The organizations haven't issued an update arsenic to wherever these cases stand. Santos, for his part, played dumb and told NPR that he had nary thought location moreover was an progressive probe into his behaviour connected Kalshi. "I'm not saying yes, I'm not saying no," he said erstwhile asked if he had a Kalshi account.
He besides suggested that Luana Lopes Lara, a cofounder of Kalshi, is simply a "fellow Brazilian" and a individual friend. Reporting has indicated that Santos does not, successful fact, cognize Lara. Santos is nan boy of Brazilian immigrants, but was calved successful New York. He besides lies astir pretty overmuch everything.
His lies yet caught up pinch him. Santos was deed pinch 13 counts of ligament fraud, money laundering and stealing money from governmental donors while serving arsenic a congressman. He was expelled from Congress and received a condemnation of much than 7 years successful prison. Trump commuted his sentence (game recognizes game) truthful he only served 4 months down bars. Now he's backmost (allegedly) doing this benignant of thing. He's besides connected Cameo for astir $300 a pop, to sate "fans looking to adhd a touch of Santos sparkle to their typical occasions."
This is yet different cautionary communicative down nan emergence of online gambling platforms. If group tin rig thing for money, they will. This is beautiful scary erstwhile you see that group stake connected existent world events that effect millions of people, for illustration nan outcome of wars and nan proliferation of atomic weapons.
Santos is an easy punching bag, being arsenic really he has spent nan past respective years being nan beingness embodiment of Pinocchio. However, I find it somewhat rich | that nan DOJ and CFTC person singled him retired for insider trading when, you know, it's beautiful overmuch an epidemic crossed nan full governmental system.
President Trump and his soul circle are possibly nan astir cogent illustration of this. Throughout his 2nd word successful office, traders person had a inclination to spot bets totaling millions of dollars conscionable earlier he makes awesome announcements. The BBC followed accordant spikes of trading timed hours aliases minutes earlier a important announcement was made via societal media aliases a televised interview.
