George Santos In Hot Water Yet Again After Blatant Insider Trading Scheme During State Of The Union

For those who've forgotten the sordid saga of former New York Republican Representative George Santos, in 2022 he was elected to Congress, but even before being sworn in, lies on his resume and his official bio were exposed.

Then in 2023 after a House Ethics Committee report cited evidence of fraud and misuse of campaign funds for things like Botox and and an OnlyFans subscription, Santos was expelled from the House of Representatives by his peers.

In 2024, Santos pleaded guilty to federal charges of wire fraud and aggravated identity theft.

In April of 2025, a federal judge sentenced Santos to 87 months in prison and ordered him to pay over $370,000 in restitution to his victims. In July of 2025, Santos began his prison term.

Then in October, MAGA Republican President Donald Trump commuted Santos' sentence, thus canceling the remainder of his prison time and his uncollected financial compensation to his victims.

In February 2026, four months after his release from federal prison, Santos was on social media gushing about attending Trump's upcoming State of the Union (SOTU) address.

Traders on predictive market sites like Kalshi and Polymarket were placing bets on who would attend Trump's SOTU, so Santos' video drastically affected the market.

But on the night of the event, Santos was a no-show.

As Trump was speaking, Santos posted on X again, blaming the airlines for him not being in D.C. to hear Trump speak.

His second post also heavily affected the predictive market sites.

Some commenters at the time even made reference to Santos manipulating the market with his posts.

@cashingpropss/X

And it turns out, the comments appear accurate.

Santos allegedly placed bets on Kalshi that he wasn't going to attend Trump's SOTU, then misled the public to turn a profit in the tens of thousands of dollars. Kalshi detected Santos' trades, froze his account, and referred the evidence to the Commodity Futures Trading Commission and the Department of Justice.

While the CFTC and DOJ have yet to officially confirm an investigation is underway, sources report the CFTC is looking into Santos' trades while the DOJ sources said that agency hasn't acted on the Kalshi information. But given Trump's reaction to cases of insider trading related to his Iran War, it's unsurprising his DOJ would give a pass on that crime.

Either way, Santos trashed Kalshi, and the news media, on X.

On Wednesday, the convicted grifter posted:

"One thing I learned is @Kalshi is a danger to their users."

"No privacy and all leaks…"

"Remember they keep your SS#, Drivers license and Banking info."

"Their license to operate must be revoked pending conclusion of an investigation."

Sounds like a completely innocent person with absolutely nothing to hide.