Federal authorities are investigating George Santos, the disgraced former Republican congressman from New York, for alleged insider trading. The investigation centers on whether Santos placed bets on his own attendance at President Donald Trump’s State of the Union address in February.
The suspected trading reportedly took place on Kalshi, a popular online prediction market. Kalshi referred the activity to authorities after Santos allegedly engaged in a contract that referenced his own appearance at the event.
Reports indicate that while Santos boasted about attending the State of the Union address, he allegedly bet against his appearance. This suspected scheme has prompted the current federal probe into the former representative's actions.