The trading platform Kalshi issued a three-year suspension to the candidate, Laurie Buckhout, and fined her nearly $2,600. Ms. Buckhout said she had made a “dumb mistake.”

© Chris Seward/Associated Press

The firm, 1789 Capital, led the funding round that reportedly will total around $1 billion.

Santos was accused of profiting from bets tied to his attendance at Trump’s State of the Union address

George Santos, the former Republican congressman whose political career collapsed under a mountain of lies, has become the first person ever handed a lifetime ban by the prediction-market platform Kalshi.

The company announced the permanent suspension on Monday, along with a $71,356 fine, after federal regulators accused Santos of profiting from bets tied to his own attendance at Donald Trump’s State of the Union address earlier this year.

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© Photograph: Alex Brandon/AP

© Photograph: Alex Brandon/AP

© Photograph: Alex Brandon/AP

Santos was accused of profiting from bets tied to his attendance at Trump’s State of the Union address

George Santos, the former Republican congressman whose political career collapsed under a mountain of lies, has become the first person ever handed a lifetime ban by the prediction-market platform Kalshi.

The company announced the permanent suspension on Monday, along with a $71,356 fine, after federal regulators accused Santos of profiting from bets tied to his own attendance at Donald Trump’s State of the Union address earlier this year.

Continue reading...

© Photograph: Alex Brandon/AP

© Photograph: Alex Brandon/AP

© Photograph: Alex Brandon/AP

The company announced the ban after saying its compliance department had established reasonable cause to believe Santos engaged in insider trading over his attendance at the State of the Union, when he turned a $17,839 profit on his trading activity.

A legal dispute over the future of Kalshi, Polymarket and others has drawn in the Trump administration, the president’s son and nearly every state attorney general.

© Ricardo Tomás