By Maribel Velazquez
The former Republican congressman George Santos is once again under federal scrutiny. This time, authorities are investigating whether he used inside information to profit from bets placed on Kalshi, an online prediction markets platform.
According to information published by MS NOW, the investigation focuses on operations carried out by Santos before the speech on the State of the Union of the president donald trump.
Sources familiar with the case indicated that the former legislator’s activities were reported to both the Commodity Futures Trading Commission (CFTC) like Department of Justice (DOJ). However, while the CFTC confirmed an ongoing investigation, the DOJ assured that it is not currently conducting an investigation against Santos.
The bet that raised suspicions
The controversy arose from a publication made by Santos on February 23 on the social network would attend the State of the Union address and that he would observe the event from the guest gallery.
However, according to reports, the former congressman would have bet Kalshi that he would not attend the event. Hours before the speech, he publicly announced that he would not attend due to travel problems.
“Watching the State of the Union address on airport television was not in my plans!” he wrote then.
The sequence of events raised questions about whether he obtained financial benefits thanks to information that only he knew regarding his real plans.
A history marked by scandals
Santos responded to the accusations through a statement published in X, where He described the accusations as “absurd” and assured that his moral team is already in contact with the authorities to clarify the situation.
The new investigation adds to a long list of legal problems for the former Republican legislator. Elected to Congress in 2022, Santos was expelled from the House of Representatives in December 2023 after an ethics investigation that documented multiple irregularities.
Subsequently, pleaded guilty to wire fraud and aggravated identity theft. He was sentenced to 87 months in federal prison, although President Trump commuted his sentence in October 2025, arguing that he had been treated unfairly.
Furthermore, an investigation of House Ethics Committee concluded that he used campaign funds for personal expenses, including cosmetic treatments, luxury items and online subscriptions.
The investigation into his bets could become a new chapter in the controversial political career of someone who was once one of the most controversial figures in Congress.
Keep reading:
- George Santos, former representative guilty of fraud, made $400,000 selling movies
- Max Miller, R-Ohio, claims he and his mother were also scammed by George Santos
