For the first time, the Kalshi platform has permanently blocked a user's account.

Kalshi has permanently suspended a user's account for the first time. According to the company, it permanently banned former Representative George Santos for trading during the President's State of the Union address.

The incident occurred after Santos placed a bet on whether he would attend Donald Trump's State of the Union address. He was also ordered to pay a fine of just over $71,000.

Kalshi's compliance department found reasonable grounds to believe that George Santos engaged in trading activity in certain markets related to his presence at the President's State of the Union address, a Kalshi spokesperson said.

In July, Santos settled his dispute with the U.S. Commodity Futures Trading Commission and paid $35,000 as part of the settlement, without admitting or denying the agency's findings. The lawyer stated that his client had placed his first bet on a prediction market and booked a hotel room and plane tickets to Washington because he thought he would attend the hearing.

Santos served as a New York congressman in 2023, then was expelled from Congress following a House Ethics Committee investigation into ethics violations.

Previously edited Happy Coin News ReportedThe U.S. Commodity Futures Trading Commission has ordered Gabriel Perez, a former White House teleprompter operator, to pay more than $172,000 in damages for using his access to President Trump's speeches to profit from Kalshi.