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The George Santos Situation May Be the Most Comical Prediction Market Insider Trading Case Yet
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The George Santos Situation May Be the Most Comical Prediction Market Insider Trading Case Yet

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George Santos may be the latest individual caught trading on insider information in a prediction market. According to NPR , the U.S. Department of Justice (DOJ) is examining whether the former New York congressman placed bets on Kalshi using nonpublic details about his own plans. The market in question centered on whether Santos would attend President Donald Trump’s State of the Union address in February. In the days leading up to the State of the Union address, Santos posted a video on X stating he would appear in the event. That public confirmation pushed the odds of his attendance on Kalshi close to 75% the night before the event, drawing millions of dollars in wagers across related markets.  Santos did not show up to the State of the Union address, however. During the speech he posted on X that he was watching from an airport television instead. The odds on his attendance collapsed shortly afterward.…

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