Former US Congressman Settles with CFTC for $35,000 on Market Manipulation Prediction

August 1st, former U.S. Congressman George Santos has reached a settlement with the U.S. Commodity Futures Trading Commission (CFTC). The CFTC stated that Santos engaged in manipulative trading practices while trading a prediction contract on Kalshi regarding whether he would attend the February 2026 State of the Union address, profiting over $17,500.

According to a CFTC announcement on Friday, Santos has agreed to pay $35,000 as part of the settlement, but neither admitted nor denied the regulatory agency's investigational findings.