Former Congressman George Santos, previously representing New York, has agreed to a settlement of $35,000 in response to charges leveled by the Commodity Futures Trading Commission (CFTC). The charges suggested that Santos engaged in manipulative trading activities.
The CFTC’s investigation focused on trades made by Santos on Kalshi, a platform used for trading event outcomes. The trades in question involved predictions about whether Santos would be present at the State of the Union address.
Such activities drew scrutiny from the regulatory body, prompting a formal statement from the CFTC on Friday. By settling the charges, Santos has resolved the issue without admitting to or denying the allegations.