George Santos Agrees to Pay $35,000 to Settle Federal Investigation into Suspicious State of the Union Trades
George Santos has agreed to pay a $35,000 settlement to the Commodity Futures Trading Commission (CFTC) to resolve a federal investigation into his trading activities. The former Republican congressman traded on the Kalshi prediction marketplace regarding his own attendance at the President Trump State of the Union address. After announcing the settlement on Friday, the CFTC stated that Santos will pay a $17,500 fine and return the $17,569.98 he earned from the trades. The agency also imposed a three-year trading ban on Santos. While Santos settled the matter without admitting any wrongdoing, his lawyer, Joseph Murray, defended the client's actions by stating that Santos had a genuine intention to attend the day's events before a winter storm changed his plans. The settlement follows a previous federal investigation into Santos's campaign funding and his subsequent expulsion from Congress. President Trump commuted his sentence last fall after Santos was sentenced for wire fraud and identity theft.