{"id":642,"date":"2026-06-03T22:15:12","date_gmt":"2026-06-03T22:15:12","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=642"},"modified":"2026-06-03T22:15:12","modified_gmt":"2026-06-03T22:15:12","slug":"polymarket-cuts-ties-with-former-rep-george-santos-as-feds-investigate-if-he-illegally-bet-against-his-own-actions-on-kalshi","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=642","title":{"rendered":"Polymarket cuts ties with former Rep. George Santos as feds investigate if he illegally bet against his own actions on Kalshi"},"content":{"rendered":"<div>\n<p>Santos placed the bets on another prediction marketplace, Kalshi, after publicly announcing his intention to be at the Feb. 24 speech, according to a person familiar with the investigation. He later blamed a delayed flight for missing the event.<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=640\">\u2018I hope she\u2019s ready\u2019: Spencer Pratt throws down the gauntlet to Karen Bass<\/a><\/p>\n<p>The suspicious trades were detected by Kalshi and referred to the Commodities Future Trading Commission, which has opened a probe into Santos for possible insider trading, according to a second person familiar with the investigation.<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>Both spoke to The Associated Press on the condition of anonymity because they were not authorized to discuss the matter publicly.<\/p>\n<p>By the time of the State of the Union address, Santos was already working in an influencer capacity for Polymarket, using his substantial online platform to promote the controversial brand. He was released from federal prison last October after Trump\u00a0granted him clemency\u00a0in a fraud case.<\/p>\n<p>In response to an inquiry from the AP, a Polymarket spokesperson said the company was in the process of terminating the contract as a result of this week\u2019s revelations.<\/p>\n<p>Santos did not respond to phone calls and text messages from the AP.<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>On his podcast, \u201cDoing Time with George Santos,\u201d the former congressman has spoken about his involvement in prediction markets, which he called \u201ceasily manipulable.\u201d<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=638\">Nick Saban to Congress: college sports is the biggest, baddest Ferrari\u2019 going 150 mph toward the Grand Canyon. \u2018Somebody needs to tap the brakes\u2019<\/a><\/p>\n<p>\u201cThere\u2019s definitely some space for speculation. There will be investigations. There will be scrutiny,\u201d he said in March. \u201cI just want to make sure that people understand: It is not straightforward. It is not a crime to do prediction market.\u201d<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>He continued: \u201cI think it\u2019s fun and you can make a little money and you can have fun with it, but just understand that there will always be advantaged players in this game and it\u2019s very hard to understand who they are.\u201d<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>Santos won election to Congress in 2022 after campaigning using a fake persona as a wealthy, self-made Wall Street dealmaker, when he actually had no background in finance and was struggling to pay his rent.<\/p>\n<div>\n<div><\/div>\n<\/div>\n<div>\n<div><\/div>\n<\/div>\n<p>He was expelled from Congress and pleaded guilty to wire fraud and identify theft in a criminal case involving stealing money from donors, using some of it on personal expenses including designer clothing.<\/p>\n<p>Sentenced to more than seven years in prison, Santos served 84 days before Trump commuted his sentence.<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=636\">Two government virologists smuggled Mpox vials into the U.S. It\u2019s not clear why<\/a><\/p>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Kalshi reported him this morning for allegedly betting against his appearance at Trump&#8217;s State of the Union.<\/p>\n","protected":false},"author":1,"featured_media":641,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[160],"tags":[],"class_list":["post-642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-polymarket"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Polymarket cuts ties with former Rep. George Santos as feds investigate if he illegally bet against his own actions on Kalshi - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=642\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Polymarket cuts ties with former Rep. George Santos as feds investigate if he illegally bet against his own actions on Kalshi - Cross Country Moving Team\" \/>\n<meta property=\"og:description\" content=\"Kalshi reported him this morning for allegedly betting against his appearance at Trump&#039;s State of the Union.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/crosscountrymovingteams.com\/?p=642\" \/>\n<meta property=\"og:site_name\" content=\"Cross Country Moving Team\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-03T22:15:12+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=642#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=642\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/#\\\/schema\\\/person\\\/1b8121bfb9a1c55d1fff3fca675fceaa\"},\"headline\":\"Polymarket cuts ties with former Rep. 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