CFTC Settles With Former Congressman George Santos Over Kalshi Manipulation Allegations
Summary
- The US Commodity Futures Trading Commission (CFTC) has settled with George Santos over allegations of market manipulation on prediction platform Kalshi.
- The CFTC had previously sued Santos, alleging that he bet on a Kalshi prediction market tied to whether he would attend the State of the Union address and manipulated the market's outcome.
- Santos reportedly made more than $17,500 from the trades.
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The US Commodity Futures Trading Commission has settled with former US Representative George Santos over allegations he manipulated a market on prediction platform Kalshi, crypto media outlet The Block reported on August 31.
The CFTC had previously sued Santos, alleging that he bet on a Kalshi market tied to whether he would attend the State of the Union address and manipulated the market's outcome.
Santos reportedly made more than $17,500 from the trades.
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