Former Rep. George Santos arrives at federal court for sentencing, April 25, 2025, in Central Islip, N.Y. (AP Photo\/Julia Demaree Nikhinson, File)<\/small><\/p>\n
2026-07-31T22:56:26Z<\/p>\n
NEW YORK (AP) \u2014 Disgraced former Congressman George Santos<\/a><\/span> agreed Friday to pay $35,000 to settle a federal investigation into his suspicious trades<\/a><\/span> on the prediction marketplace Kalshi after he bet against his own plans to attend President Donald Trump\u2019s State of the Union.<\/p>\n The onetime Republican lawmaker from New York said he settled with the federal Commodity Futures Trading Commission to \u201cput this matter behind him,\u201d noting that he did not admit to doing anything wrong.<\/p>\n \u201cHe chose a prompt, practical resolution, rather than protracted, costly litigation, and that choice should not be mistaken for admission of any wrongdoing, because it is not one,\u201d Santos\u2019 lawyer Joseph Murray said in a statement Santos shared on X<\/a><\/span>. <\/p>\n The commission said Friday\u2019s settlement represents<\/a><\/span> the more than $17,000 Santos earned from the unlawful trading as well as a fine of $17,500. The agency also imposed a three-year trading ban on Santos. <\/p>\n Kalshi, which had reported Santos to regulators, said it will also pursue its own enforcement action and work to reimburse traders if monetary penalties are recovered.<\/p>\n Leading up to Trump\u2019s February speech, Santos had talked frequently about his plans to be in the crowd. But minutes into the speech, he posted on X<\/a><\/span> to say that he had been waylaid at the airport and couldn\u2019t make it to Capitol Hill.<\/p>\n Social media users called him out, noting that Kalshi had put the odds of Santos attending the address at close to 75%.<\/p>\n Santos shrugged off the complaints at the time. <\/p>\n