the United States Commodity Futures Trading Commission
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George Santos betting activity on Kalshi flagged to DOJ, source says
Betting activity by disgraced former Rep. George Santos on the prediction market Kalshi has been flagged to federal authorities, according to a source familiar with the investigation. Kalshi alerted the Justice Department and the United States Commodity Futures Trading Commission about bets Santos placed regarding his attendance at President Trump’s State of the Union address in February, according to the source, who was not authorized to discuss the matter publicly. Santos, 37, told his...
Prediction market firms face growing scrutiny as Congress weighs regulation
The leader of the congressional committee that oversees how the House functions says he is working on legislation to not only ban current lawmakers from making prediction markets bets on elections and politics but that he wants to expand that to former federal lawmakers and candidates for those offices. Rep. Bryan Steil, R-Wisc., who chairs the House Administration Committee, told reporters this week he doesn't see an issue in lawmakers betting on non-political events, like the outcome of...