In a historic move, the prediction platform Kalshi has permanently banned a user for the first time. The individual in question is George Santos, a former Republican representative from the United States. Along with the ban, he has been fined $71,356.
According to the platform, Santos engaged in trading contracts related to his own attendance at the President's address to Congress in February. He subsequently made false or misleading public statements aimed at manipulating the price of those contracts, earning $17,839 from these trades.