DOJ investigating George Santos for alleged insider trading on Kalshi: Report The Department of Justice is investigating former Rep. George Santos for alleged insider trading on the prediction market Kalshi. Santos reportedly placed bets on whether he would attend President Trump’s State of the Union address, profiting tens of thousands of dollars. Kalshi flagged the trades and referred the case to regulators, prompting investigations.

• The Department of Justice is investigating former Rep. George Santos for alleged insider trading on Kalshi.
• The investigation centers on bets Santos allegedly placed regarding his attendance at the State of the Union address.
• Santos posted a video indicating he would attend, prompting others to bet, then later posted he was watching from an airport.
• NPR reports Santos had placed bets that he would not attend and profited significantly.
• Kalshi flagged the trades, froze his account, and referred the case to the CFTC and DOJ.
• This adds to legal scrutiny facing Santos, who has faced fraud charges and was expelled from the House.
• The case raises questions about the regulation of prediction markets like Kalshi.