Federal regulators are investigating former Representative George Santos over suspicious trading activity on a prediction market platform.
The probe centers on Santos’s alleged trading in a contract that referenced his own appearance at the State of the Union address.
Prediction market Kalshi referred Santos’s suspected trading to authorities, sparking the inquiry.
The case raises questions about potential insider trading within prediction markets, where contracts are based on future events.
Regulators are examining whether Santos used non-public information to profit from the trades.
The investigation underscores growing scrutiny of prediction markets and their vulnerability to manipulation.
Santos has not publicly commented on the probe, and no charges have been filed at this time.
