George Santos Shilled Polymarket While Trading on Kalshi

Posted on: June 4, 2026, 08:23h. 

Last updated on: June 4, 2026, 08:23h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.
  • Polymarket has ended its partnership with George Santos
  • The disassociation comes after the DOJ opened a probe into Santos’ alleged trading on Kalshi
  • Santos is no stranger to controversy, as he fabricated his background while running for Congress

George Santos might need President Donald Trump’s help again after the Justice Department launched an investigation into whether he used insider information to trade on Kalshi.

George Santos insider trading Kalshi prediction market
George Santos is photographed in New York City. Santos is facing possible federal charges for manipulating a prediction market and using insider information to make money on the federally regulated exchange. (Image: Shutterstock)

Santos was expelled from Congress and sentenced to 87 months in a federal prison for extensive campaign finance violations and fraud. Trump commuted the disgraced politician’s sentence last fall.

Following his release, prediction market Polymarket tapped Santos as a paid influencer to promote the platform to his millions of social media followers. Since then, Santos has posted and shared dozens of Polymarket trading contracts and video messages with his commentary on the events.

All the while, Santos, the DOJ alleges, was personally trading on rival Kalshi and making insider trades on events regarding himself. After the DOJ news, Polymarket said it’s cutting ties with Santos. 

Santos Denies Allegations 

On his X account, Santos called the DOJ allegations against him “preposterous.”

“The basis of the accusation is preposterous, and I look forward to supplying any information asked of me to any agency that inquires. Till then, media please do not inquire,” Santos wrote.

Santos went on to attack the media.

“I’m glad to once again make the dying failed media millions on their sensational stories,” Santos said.

Santos then attacked Kalshi for supposedly not protecting customer data.

One thing I learned is that Kalshi is a danger to its users. No privacy and all leaks,” Santos declared. “Remember, they keep your SS#, driver’s license, and banking information. Their license to operate must be revoked.”

The DOJ is reviewing whether Santos manipulated Kalshi contracts on whether he would attend Trump’s State of the Union address in February. Before the president’s address to Congress, Santos made a video post saying he would be there. Behind the scenes, he was allegedly purchasing “no” shares that he wouldn’t be at the SOTU. Santos was not in the House chamber that night, later posting a message from an airport that he missed it.

Kalshi reportedly detected the suspicious trading activity and referred the possible criminal case to the DOJ for investigation.

Prediction Market Black Eyes 

Though Kalshi is said to have identified Santos’ alleged insider trading and market manipulation, the headlines are more fodder for critics of prediction markets who believe more oversight is needed.

Several pieces of legislation, largely from Democrats, have been filed in Congress to rein in prediction market trading. From limiting what they can and cannot offer trading one, with efforts to exclude sports from the platforms most sought, to allowing states to have some jurisdictional oversight, have been proposed.

However, under the second Trump administration, the Commodity Futures Trading Commission has been further empowered. Last month, the president said it is “critically important” that the CFTC retain the “exclusive authority” over prediction markets.