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AAP
AAP
Business
JAKE OFFENHARTZ (Associated Press)

George Santos reported to prosecutors over suspicious Kalshi trades, AP source says

George Santos Kalshi Donald Trump United States NPR Polymarket State Of The Union

NEW YORK (AP) — A prediction market reported U.S. Rep. George Santos to federal prosecutors after he boasted he'd be going to President Donald Trump's State of the Union address, then bet against his own attendance, according to a person familiar with the investigation.

Kalshi, the online prediction marketplace, referred Santos to the Department of Justice after detecting suspicious trades made by the former congressman ahead of Trump's Feb. 24 speech, the person said. The person spoke to The Associated Press on the condition of anonymity because they weren't authorized to discuss the matter publicly.

Kalshi also reported the trades to the Commodity Futures Trading Commission, a federal regulatory body that has vowed to crack down on insider trading in prediction marketplaces.

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