George Santos Paying $35K After Manipulating Betting Markets On His Own State Of The Union Attendance: Feds

Washington, D.C. — Former 4th-district Congressman George Santos was ordered to pay $35,000 in fines last week after an investigation revealed that he had manipulated prediction markets to make more money betting on whether or not he would attend the State of the Union.

According to NBC News reports, prediction market site Kalshi alerted federal authorities in February, saying that Santos had bet on his own State of the Union address.

In a video posted on X Feb. 23, Santos said, “I’m gonna be in the gallery.”

Santos was not in the gallery the next day, Feb. 24, when President Donald Trump gave the State of the Union Address.

“Santos made a series of material misrepresentations and omissions about whether he would attend the SOTU,” the Commodity Futures Trading Commission said in a July 31 announcement. “After these posts, the SOTU contract prices moved in a direction that was favorable to Santos’ positions which allowed him to make over $17,500.”

Per the trading commission, Santos will have to surrender the $17,569.98 that he made on the prediction market scheme, and pay an additional $17,500 fine.

“Santos agreed to a cease and desist from further violations of the Commodity Exchange Act and CFTC regulations,” the commission said. “Under the order, a three-year trading ban is imposed on Santos.”

In 2022, Santos was elected to represent New York's 3rd district in Congress, becoming the first openly gay Republican to win a congressional seat. Within two years, amid reports that much of his biographical information had been fabricated, Santos was expelled from congress and pleaded guilty to charges of wire fraud and identity theft.

Santos was sentenced to serve 87 months in prison and Trump commuted his sentence in October of 2025.