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      Kalshi Bans George Santos Over State of the Union Betting Incident

      Kalshi, a prediction-market company, has permanently banned former US Representative George Santos and imposed a penalty exceeding $71,000 after he placed a bet on his own attendance at President Donald Trump's State of the Union address. This action follows allegations of market manipulation, as Santos reportedly made false statements on social media that influenced his wagers, ultimately resulting in a profit of nearly $18,000 when he did not attend the event.

      In addition to Santos, Kalshi announced penalties and temporary suspensions for three political candidates from Maine, California, and North Carolina for similar infractions involving bets on their own races. North Carolina Republican candidate Laurie Buckhout acknowledged her mistake in betting on herself and received a fine of approximately $2,600 along with a three-year suspension from the platform.

      Both Kalshi and its competitor Polymarket have stated their capability to detect and prevent suspicious activities as the landscape of election betting continues to grow. Santos' legal representation has not yet provided a comment regarding the ban and penalties imposed.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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