Episode Details

Former Congressman George Santos just got a lifetime ban from prediction market platform Kalshi after allegedly manipulating contract prices for profit — a move that’s not his first regulatory stumble. He responded with sarcastic thanks and questioned Kalshi’s longevity, following a $17,500 fine from the CFTC. Meanwhile, Kalshi also penalized three political candidates — including billionaire Stephen Cloobeck (suspended 3 years, fined $31K) and Maine’s Ben Midgley and North Carolina’s Laurie Buckhout (each fined and suspended 3 years) — for betting on their own races, citing insider trading violations. All three cooperated with the probe, and this isn’t Kalshi’s first rodeo with self-betting candidates.

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