Kalshi issues first permanent ban, former Rep. George Santos stumbles over State of the Union deal

The prediction market platform Kalshi took action against former U.S. Congressman George Santos. The punishment was the most severe on the platform: a permanent ban on trading. This is also the first time Kalshi has issued a permanent ban on a user since its establishment.

According to The Block, the ban is related to Santos’ trading behavior in the “State of the Union”-related prediction market. There is currently no further information on the specific violation content, amount involved or transaction time.

Santos therefore became the first name on Kalshi's trading record to be labeled "permanent". This incident itself is more noteworthy than the reason for the ban - it was the first time that a platform used the most severe measures, and the target happened to be a public figure who had been in the halls of Congress.

Kalshi and Santos themselves have not yet provided further details.