A prediction market reported George Santos to federal prosecutors after he boasted he’d be going to Donald Trump’s State of the Union address, then bet against his own attendance, according to a person familiar with the investigation.
Kalshi, the online prediction marketplace, referred Santos to the Department of Justice after detecting suspicious trades made by the former congressman ahead of Trump’s Feb. 24 speech, the person said. The person spoke to The Associated Press on the condition of anonymity because they weren’t authorized to discuss the matter publicly.
Kalshi also reported the trades to the Commodity Futures Trading Commission, a federal regulatory body that has vowed to crack down on insider trading in prediction marketplaces.
The whole thing is stupid. There have been plenty of instances where a podcaster or someone in the public would check these as they were live and make sure to either say or not say certain things based on those odds.