politics @lemmy.worldEnglish · 11 hours ago

George Santos gets first ever Lifetime Kalshi ban, former congressman responds

www.newsweek.com

102

George Santos gets first ever Lifetime Kalshi ban, former congressman responds

www.newsweek.com

MicroWave@lemmy.world to

politics @lemmy.worldEnglish · 11 hours ago

George Santos responded after Kalshi issued its first-ever lifetime ban, mocking the prediction market on X after insider trading allegations.

Former Republican Representative George Santos has hit back after receiving a lifetime ban on prediction market platform Kalshi.

On Monday, Kalshi said it had permanently barred Santos from its platform and imposed a $71,356 penalty following a Commodity Futures Trading Commission (CFTC) case tied to trades on his own attendance at President Donald Trump’s State of the Union address. Regulators alleged Santos profited from contracts predicting he would miss the event while posting content that suggested he still planned to attend.

It marks the first time Kalshi has issued a lifetime ban, according to a company spokesperson, and its compliance department had imposed a penalty of $71,356, according to a filing on its website.

Chat

meco03211@lemmy.world
link
fedilink
arrow-up
3·
11 hours ago
How much money on total did he make? And honestly, how is only $76k what he made off a slam dunk that he could directly prime? Weren’t there bets getting like $500k from the first strikes on Iran?

politics @lemmy.world

politics@lemmy.world

Create a post

You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: [email protected]

Welcome to the discussion of US Politics!

Rules:

Post only links to articles. Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.

Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.

Example:

Articles must be relevant to US politics and contain quality and original content. Social Media adjacent hosts like Substack are allowed, but ONLY if they tie back to a company/subsidiary. No personal or friend group blogs and no self-promotion. Articles should be worth reading. Clickbait, stub articles, and re-hosted or stolen content are not allowed. Check your source for Reliability and Bias here.
Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing other users of being bots or paid actors.
No memes, trolling, misinformation, or low-effort posts/comments (including reposts). If you see posts like this that anger you, do not engage. Report, block, and live a happier life than they do. Any slap-fight is subject to comment removals. Fights full of rule violations will result in temporary bans to cool off.
No manipulating votes via bots or alt accounts; this will result in permanent bans. Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in an account ban. Usernames containing racist, or inappropriate slurs will be permanently banned.

We ask that the users report any comment or post that violate the rules and use critical thinking when reading, posting, and commenting. Users that repeatedly have comments or posts removed, weaponize reports, or violate the code of conduct, will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users. The reason(s) behind moderator action(s) are publicly available through the Modlog.

That’s all the rules!

Civic Links

• Register To Vote

• Citizenship Resource Center

• Congressional Awards Program

• Federal Government Agencies

• Library of Congress Legislative Resources

• The White House

• U.S. House of Representatives

• U.S. Senate

Partnered Communities:

• News