On June 1, the Nevada Gaming Control Board (NGCB) announced that Judge Woodbury granted its motion for a preliminary injunction against prediction market platform Polymarket....
George Santos investigated over insider trading on Kalshi
Former New York Republican Congressman George Santos is under investigation for insider trading on Kalshi over his own attendance at the State of the Union address in 2026.
Federal authorities claim that after sharing that he would join Trump’s State of the Union Address in February 2026, Santos placed a bet on his attendance and never showed up.
Santos shared in an X video:
“I’m going to be there for the State of Union in the gallery, guys.”
After not showing up at the event, Santos further wrote:
“Watching SOTU from an airport tv was not part of the plan! FML.”
During this period, millions were traded on prediction market platforms on who would attend the Address, with Santos’ confirmation heavily impacting odds. Since then, three individuals not authorized to share details of the bets revealed that Santos deceived the public to gain profit from event contracts.
As a result, Kalshi flagged the trades and froze Santos’ account, later referring the case to the CFTC and Department of Justice for review.
Santos stated in an X post on June 3:
“My legal team is in contact with the DOJ to see what is going on. The basis of the accusation is preposterous, and I look forward to supplying any information asked of me to any agency that inquires.”
The allegations come after Santos was accused of aggravated identity theft and wire fraud connected to his 2022 midterm campaign and spent just three months in prison as President Trump commuted his 7-year sentence.
The General Assembly of Illinois has approved Governor Pritzker’s $56 billion state budget plan for 2027, which includes a tax on prediction market sports event contracts.
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