The Department of Justice is investigating former Congressman George Santos for alleged insider trading related to bets placed on the prediction market platform Kalshi, according to reports.
According to NPR, Santos allegedly bet on whether he would appear at the State of the Union address. The New York Post reported that Santos allegedly placed a bet on Kalshi that he would not attend Trump's address to Congress, according to a report.
The alleged bets have prompted federal investigations, NPR reported.
Santos is a former congressman from New York. The New York Post described him as a "one-time New York lawmaker and New Jersey prison inmate."
The investigation involves allegations of insider trading on the Kalshi platform. The reports do not provide additional details about the specific nature of the alleged insider trading beyond the reported bets on congressional attendance, nor do they specify the current status of the investigation or whether charges have been filed.
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