The lifetime ban—the first time Kalshi has ever imposed such a penalty on a user—comes after the company investigated the former New York Republican Congressman for allegedly placing bets on the prediction market platform over whether he was going to attend President Donald Trump’s State of the Union address on Feb. 24.
Santos said on social media ahead of Trump’s State of the Union address in February that he was going to be at the event, but ultimately did not attend.
In addition to permanently banning Santos from Kalshi, the company also levied a fine of $71,356 against him.
In another post on X, Santos alleged that Kalshi “violates its own notices and deadlines,” accusing the company of giving him a 30-day notice on Aug. 7 but announcing the lifetime ban ahead of the deadline.
Kalshi’s penalties against Santos come after the Commodity Futures Trading Commission fined the former Congressman more than $35,000 in July related to trading on his attendance at Trump’s State of the Union address. The commission alleged that Santos engaged “in manipulative activity in an event contract — whose underlying event Santos controlled — designed to affect the price of the swap.” Santos didn’t admit to the allegations, but he agreed to pay the penalties.
Santos, who was expelled from the House in 2023, was sentenced in April 2025 to more than seven years in prison after pleading guilty to federal charges of wire fraud and identity theft. But in October, Trump announced that he had commuted Santos’ sentence, and Santos was released after serving less than three months.
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