The prediction platform permanently banned George Santos and issued a three-year suspension for Laurie Buckhout after investigations into using insider information on event contracts.
Update (Sept. 2, 4:00 pm UTC): This article has been updated to include a statement from Melinda Roth.
Prediction market platform Kalshi announced action against US House of Representatives candidate Laurie Buckhout and ousted Republican lawmaker George Santos over using insider information for trading on event contracts, in one of the first lifetime bans the company has imposed since its launch in 2021.&
In separate notices of settlement of disciplinary action announced on Friday, Kalshi’s compliance department said it had permanently suspended Santos from trading on the prediction markets platform and imposed a $71,356 penalty. Buckhout received a three-year suspension and a $2,590 penalty.
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