{"id":11808,"date":"2026-06-03T15:02:20","date_gmt":"2026-06-03T15:02:20","guid":{"rendered":"https:\/\/siliconvalleymovingpost.com\/?p=11808"},"modified":"2026-06-03T15:02:20","modified_gmt":"2026-06-03T15:02:20","slug":"george-santos-reported-to-prosecutors-over-suspicious-kalshi-trades-ap-source-says","status":"publish","type":"post","link":"https:\/\/siliconvalleymovingpost.com\/?p=11808","title":{"rendered":"George Santos reported to prosecutors over suspicious Kalshi trades, AP source says"},"content":{"rendered":"
\n

By JAKE OFFENHARTZ<\/strong><\/p>\n

NEW YORK (AP) \u2014 A prediction market reported former U.S. Rep. George Santos to federal prosecutors after he boasted he\u2019d be going to President Donald Trump\u2019s State of the Union address, then bet against his own attendance, according to a person familiar with the investigation.<\/p>\n

Read more 2 scientists charged with bringing deactivated mpox virus into the US and lying to authorities<\/a><\/p>\n

Kalshi, the online prediction marketplace, referred Santos to the Department of Justice after detecting suspicious trades made by him ahead of Trump\u2019s Feb. 24 speech, the person said. The person spoke to The Associated Press on the condition of anonymity because they weren\u2019t authorized to discuss the matter publicly.<\/p>\n

Kalshi also reported the trades to the Commodity Futures Trading Commission, a federal regulatory body that has vowed to crack down on insider trading in prediction marketplaces.<\/p>\n

The Justice Department and the CFTC didn\u2019t immediately respond Tuesday to inquiries from the AP.<\/p>\n

Santos also did not respond to text messages or phone calls.<\/p>\n

The referral was first reported by NPR. Santos told NPR that he wasn\u2019t aware of the investigation. He declined to say whether he had a Kalshi account.<\/p>\n

\u201cI\u2019m not saying yes, I\u2019m not saying no,\u201d Santos told NPR.<\/p>\n

\n<\/div>\n

The convicted ex-congressman had repeatedly discussed his intention to attend the State of the Union, which came just four months after he was granted clemency by Trump in a fraud case that led to his expulsion from the U.S. House.<\/p>\n

On the eve of Trump\u2019s speech, Kalshi put the odds of Santos attending at close to 75%.<\/p>\n

Then, minutes into the speech, Santos posted on X that he had been waylaid at the airport. Immediately, several social media users accused him of running another scheme.<\/p>\n

Read more Ra\u00fal Castro turns 95 as Cuba celebrates enigmatic figure<\/a><\/p>\n

\u201cSantos talking to his accountant and telling him to open his Kalshi account and bet all his money on No,\u201d one user wrote, alongside a meme of Al Pacino counting money in the movie Scarface.<\/p>\n

\n<\/div>\n

In March, Santos addressed the complaints on his podcast.<\/p>\n

\u201cI guess people lost money,\u201d he said. \u201cSome people made unexpected money. That\u2019s to show you how fragile these markets are.\u201d<\/p>\n

Santos, who won office as a Republican after inventing a bogus persona as a Wall Street dealmaker, was sentenced to seven years in prison after pleading guilty to fraud and identity theft in 2024.<\/p>\n

After serving just 84 days, he was ordered released by Trump, who called Santos a \u201crogue\u201d but said he didn\u2019t deserve a harsh sentence and should get credit for voting Republican.<\/p>\n

Prediction markets, including Kalshi and its chief rival Polymarket, have drawn scrutiny as their businesses have expanded \u2014 with some lawmakers urging the platforms to do more to guard against insider trading.<\/p>\n

Both companies have said they are reporting suspicious trades to federal regulators. Some investigations have led to criminal charges. In April a soldier involved in the military operation to capture Venezuelan President Nicol\u00e1s Maduro was charged with using classified information to win more than $400,000 predicting the date of his capture on Polymarket.<\/p>\n

In April, the Senate approved a bipartisan resolution to prevent its own members from using prediction markets.<\/p>\n

Read more OC supervisors divided on contracts with two senior services providers<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A prediction market reported former Rep. George Santos to feds after he boasted he\u2019d be going to President Donald Trump\u2019s State of the Union address, then bet against his own attendance.<\/p>\n","protected":false},"author":1,"featured_media":11807,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43,2],"tags":[],"class_list":["post-11808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-based-on-facts-either-observed-and-verified-directly-by-the-reporter-or-reported-and-verified-from-knowledgeable-sources","category-news"],"yoast_head":"\nGeorge Santos reported to prosecutors over suspicious Kalshi trades, AP source says - Silicon Valley Moving Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/siliconvalleymovingpost.com\/?p=11808\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"George Santos reported to prosecutors over suspicious Kalshi trades, AP source says - Silicon Valley Moving Post\" \/>\n<meta property=\"og:description\" content=\"A prediction market reported former Rep. George Santos to feds after he boasted he\u2019d be going to President Donald Trump\u2019s State of the Union address, then bet against his own attendance.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/siliconvalleymovingpost.com\/?p=11808\" \/>\n<meta property=\"og:site_name\" content=\"Silicon Valley Moving Post\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-03T15:02:20+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=11808#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=11808\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/#\\\/schema\\\/person\\\/636e2e5a10a21cf87fe6eb5951e8a6b7\"},\"headline\":\"George Santos reported to prosecutors over suspicious Kalshi trades, AP source says\",\"datePublished\":\"2026-06-03T15:02:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=11808\"},\"wordCount\":563,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=11808#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/d9d534586b538fd6b3bdddba66f10d2d.webp\",\"articleSection\":[\"Based on facts, either observed and verified directly by the reporter, or reported and verified from knowledgeable sources.\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=11808#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=11808\",\"url\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=11808\",\"name\":\"George Santos reported to prosecutors over suspicious Kalshi trades, AP source says - Silicon Valley Moving Post\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=11808#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=11808#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/d9d534586b538fd6b3bdddba66f10d2d.webp\",\"datePublished\":\"2026-06-03T15:02:20+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/#\\\/schema\\\/person\\\/636e2e5a10a21cf87fe6eb5951e8a6b7\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=11808#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=11808\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=11808#primaryimage\",\"url\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/d9d534586b538fd6b3bdddba66f10d2d.webp\",\"contentUrl\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/d9d534586b538fd6b3bdddba66f10d2d.webp\",\"width\":1024,\"height\":682},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=11808#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"George Santos reported to prosecutors over suspicious Kalshi trades, AP source says\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/#website\",\"url\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/\",\"name\":\"Silicon Valley Moving Post\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/#\\\/schema\\\/person\\\/636e2e5a10a21cf87fe6eb5951e8a6b7\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"http:\\\/\\\/siliconvalleymovingpost.com\"],\"url\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"George Santos reported to prosecutors over suspicious Kalshi trades, AP source says - Silicon Valley Moving Post","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/siliconvalleymovingpost.com\/?p=11808","og_locale":"en_US","og_type":"article","og_title":"George Santos reported to prosecutors over suspicious Kalshi trades, AP source says - Silicon Valley Moving Post","og_description":"A prediction market reported former Rep. George Santos to feds after he boasted he\u2019d be going to President Donald Trump\u2019s State of the Union address, then bet against his own attendance.","og_url":"https:\/\/siliconvalleymovingpost.com\/?p=11808","og_site_name":"Silicon Valley Moving Post","article_published_time":"2026-06-03T15:02:20+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/siliconvalleymovingpost.com\/?p=11808#article","isPartOf":{"@id":"https:\/\/siliconvalleymovingpost.com\/?p=11808"},"author":{"name":"admin","@id":"https:\/\/siliconvalleymovingpost.com\/#\/schema\/person\/636e2e5a10a21cf87fe6eb5951e8a6b7"},"headline":"George Santos reported to prosecutors over suspicious Kalshi trades, AP source says","datePublished":"2026-06-03T15:02:20+00:00","mainEntityOfPage":{"@id":"https:\/\/siliconvalleymovingpost.com\/?p=11808"},"wordCount":563,"commentCount":0,"image":{"@id":"https:\/\/siliconvalleymovingpost.com\/?p=11808#primaryimage"},"thumbnailUrl":"https:\/\/siliconvalleymovingpost.com\/wp-content\/uploads\/2026\/06\/d9d534586b538fd6b3bdddba66f10d2d.webp","articleSection":["Based on facts, either observed and verified directly by the reporter, or reported and verified from knowledgeable sources.","News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/siliconvalleymovingpost.com\/?p=11808#respond"]}]},{"@type":"WebPage","@id":"https:\/\/siliconvalleymovingpost.com\/?p=11808","url":"https:\/\/siliconvalleymovingpost.com\/?p=11808","name":"George Santos reported to prosecutors over suspicious Kalshi trades, AP source says - Silicon Valley Moving Post","isPartOf":{"@id":"https:\/\/siliconvalleymovingpost.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/siliconvalleymovingpost.com\/?p=11808#primaryimage"},"image":{"@id":"https:\/\/siliconvalleymovingpost.com\/?p=11808#primaryimage"},"thumbnailUrl":"https:\/\/siliconvalleymovingpost.com\/wp-content\/uploads\/2026\/06\/d9d534586b538fd6b3bdddba66f10d2d.webp","datePublished":"2026-06-03T15:02:20+00:00","author":{"@id":"https:\/\/siliconvalleymovingpost.com\/#\/schema\/person\/636e2e5a10a21cf87fe6eb5951e8a6b7"},"breadcrumb":{"@id":"https:\/\/siliconvalleymovingpost.com\/?p=11808#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/siliconvalleymovingpost.com\/?p=11808"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/siliconvalleymovingpost.com\/?p=11808#primaryimage","url":"https:\/\/siliconvalleymovingpost.com\/wp-content\/uploads\/2026\/06\/d9d534586b538fd6b3bdddba66f10d2d.webp","contentUrl":"https:\/\/siliconvalleymovingpost.com\/wp-content\/uploads\/2026\/06\/d9d534586b538fd6b3bdddba66f10d2d.webp","width":1024,"height":682},{"@type":"BreadcrumbList","@id":"https:\/\/siliconvalleymovingpost.com\/?p=11808#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/siliconvalleymovingpost.com\/"},{"@type":"ListItem","position":2,"name":"George Santos reported to prosecutors over suspicious Kalshi trades, AP source says"}]},{"@type":"WebSite","@id":"https:\/\/siliconvalleymovingpost.com\/#website","url":"https:\/\/siliconvalleymovingpost.com\/","name":"Silicon Valley Moving Post","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/siliconvalleymovingpost.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/siliconvalleymovingpost.com\/#\/schema\/person\/636e2e5a10a21cf87fe6eb5951e8a6b7","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","caption":"admin"},"sameAs":["http:\/\/siliconvalleymovingpost.com"],"url":"https:\/\/siliconvalleymovingpost.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=\/wp\/v2\/posts\/11808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11808"}],"version-history":[{"count":0,"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=\/wp\/v2\/posts\/11808\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=\/wp\/v2\/media\/11807"}],"wp:attachment":[{"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}