George Santos’ Kalshi Wagers Draw Insider Trading Scrutiny (1)

George Santos has emerged as the latest flashpoint in the controversy over possible insider trading on prediction markets, as concerns become increasingly widespread about potential illicit bets on the platforms.

Alleged trading by Santos, a former congressman who was expelled from the US House in 2023, is being investigated by the Commodity Futures Trading Commission, according to a person familiar with the matter. The regulator is looking at wagers he placed on whether he would attend the State of the Union address in February.

Prediction markets — which allow customers to bet on just about anything — have surged ...