The online prediction market platform Kalshi said Monday that it has permanently banned former U.S. Rep. George Santos for his bets on whether he’d attend the State of the Union address and has fined and temporarily banned North Carolina congressional candidate Laurie Buckhout for bets she now calls a “dumb mistake.” The company announced the ban on
Prediction-market operator Kalshi has permanently barred former US congressman George Santos from trading on its platform. The company alleged that Santos, who was expelled from Congress following a series of fraud and identity-theft charges, placed bets in February related to his own attendance at US President Donald Trump’s State of the Union address, according to
Former Republican congressman George Santos has received a first-of-its-kind lifetime ban from the prediction market platform Kalshi, which has also fined him $71,356 for violating its rules around insider trading and market manipulation. According to the notice of disciplinary action Kalshi posted today, the former politician placed trades in markets related to whether he would
Twenty-eight-year-old Jacob Fortinsky has been busy. “I was a groomsman at two weddings this weekend,” he tells me over Zoom. Also, the sports trading company he runs, Novig, launched its prediction market last week, facilitating $18 million in trading volume on its first day. Today, Novig launches a “responsible trading framework” in its exchange rulebook,
Kalshi and Polymarket say allowing people to bet on the outcomes of clinical trials and FDA drug approvals provides valuable information about drug development. But researchers warn the bets could incentivize insider trading and interfere with the integrity of the process. Fred Tanneau/AFP via Getty Images hide caption toggle caption Fred Tanneau/AFP via Getty Images
SALT LAKE CITY — Utah can enforce its strict anti-gambling laws on prediction markets such as Kalshi and Polymarket, a federal judge ruled in a win for states seeking to rein in the popular betting platforms. Utah has been on the front lines of a battle between states and the federal government over who regulates
