Trading Volumes On Kalshi And Polymarket Fell 15% In August
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- The prediction market operator Kalshi says Santos made barred trades and misleading comments that influenced prices.
- Santos was accused of profiting from bets tied to his attendance at Trump’s State of the Union address George Santos, the former Republican congressman whose political career collapsed under a mountain of lies, has become the first person ever handed a lifetime ban by the prediction-market…
- The prediction market site has banned the former congressman for life following accusations of insider trading. It comes as election integrity experts worry prediction markets could be used in attempts to manipulate the midterm elections.
- Kalshi says Santos did not cooperate with its investigation into bets he placed on his own attendance at the State of the Union. The company also fined the disgraced congressman more than $71,000.
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- The former US representative was also fined more than $71,000 for allegedly attempting to manipulate the prediction market.
- The company says the ex-congressman didn't fully cooperate with its investigation into alleged insider trading.
- The disciplinary action comes two months after the Commodity Futures Trading Commission settled charges against Santos.
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