{"id":8445,"date":"2026-08-01T04:11:30","date_gmt":"2026-08-01T04:11:30","guid":{"rendered":"https:\/\/movinginsiderusa.com\/?p=8445"},"modified":"2026-08-01T04:11:30","modified_gmt":"2026-08-01T04:11:30","slug":"george-santos-accused-of-manipulative-activity-in-prediction-market-trades","status":"publish","type":"post","link":"https:\/\/movinginsiderusa.com\/?p=8445","title":{"rendered":"George Santos accused of \u2018manipulative activity\u2019 in prediction market trades"},"content":{"rendered":"
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\"\"<\/figure>\n\n
Then-Rep. George Santos (R-New York) in 2023. (J. Scott Applewhite\/AP)<\/figcaption>\n<\/figure>\n

Former congressman George Santos (R-New York) agreed to pay $35,000 to settle charges by the Commodity Futures Trading Commission that he engaged in \u201cmanipulative activity\u201d in trades he made regarding whether he would attend the State of the Union address, the CFTC said in a statement Friday.<\/p>

Read more Temperature rises, on and off court, at DC Open quarterfinals<\/a><\/p>\n

Santos traded on a contract on the prediction market Kalshi in February titled \u201cWho will attend the State of the Union?,\u201d and specifically traded on the question of his own attendance, according to the CFTC.<\/p>\n

In social media posts, Santos made \u201cmaterial misrepresentations and omissions\u201d about his attendance, the CFTC said. Once the prices moved favorably for him, he raked in more than $17,500 in profits, the regulatory agency said.<\/p>\n

Santos\u2019s lawyer, Joseph Murray, said the former congressman agreed to settle with the CFTC to put the matter behind him.<\/p>\n

\u201cThere was absolutely no intent to deceive any person, nor intent to manipulate any market,\u201d Murray wrote in a statement.<\/p>

Read more Prosecutors drop Reflecting Pool damage charge against former Olympian<\/a><\/p>\n

Santos will pay a penalty of $17,500, will surrender his profits and will be banned from prediction market trading for three years.<\/p>\n

Santos was expelled<\/a> from the House in 2023 after being accused of financial misconduct and telling myriad lies<\/a> about his background. He was sentenced to more than seven years in prison after pleading guilty to federal charges of aggravated identity theft and wire fraud.<\/p>\n

Santos was released after less than three months when President Donald Trump commuted his sentence in 2025.<\/p>

Read more Why senators fear Trump\u2019s DOJ payout fund isn\u2019t dead, despite Blanche\u2019s promises<\/a><\/p>","protected":false},"excerpt":{"rendered":"

The former congressman agreed to pay $35,000 to settle charges by the Commodity Futures Trading Commission, which cited trades he made on Kalshi regarding whether he would attend the State of the Union address.<\/p>\n","protected":false},"author":1,"featured_media":8443,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interesting"],"yoast_head":"\nGeorge Santos accused of \u2018manipulative activity\u2019 in prediction market trades - Moving Insider USA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/movinginsiderusa.com\/?p=8445\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"George Santos accused of \u2018manipulative activity\u2019 in prediction market trades - 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