Kalshi bans ex-Congressman Santos for manipulating prediction market bets

Prediction platform Kalshi banned former US Congressman George Santos after a regulator found he made public statements to inflate the value of his own bets on whether he would attend the State of the Union address. This is a first enforcement action against a political figure for market manipulation on a prediction platform, highlighting regulatory scrutiny of these emerging markets. The incident underscores the vulnerability of prediction markets to insider influence and the need for clearer rules.