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Kalshi Issues First Lifetime Ban for Republican Politician over Insider Bets

Kalshi suspended Buckhout for three years and fined her over betting on a contract tied to her congressional race.

Kalshi Issues First Lifetime Ban for Republican Politician over Insider Bets
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This article1 analysis · Sep 28, 2026
tl;dr

Kalshi suspended Laurie Buckhout for three years and permanently banned George Santos after investigations into trades on event contracts connected to their political roles. The actions highlight concerns about traders influencing events on which they wager.

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House candidate sanctioned by Kalshi for trading on a contract tied to her own congressional race

PRIMARY SUBJECT
George Santos
Former U.S. Representative (R-NY)

Former Representative permanently banned and fined by Kalshi

Santos's version of this story ↗
Donald Trump
R · President of the United States

President whose speeches were the subject of event contracts traded by his teleprompter operator

Democratic incumbent mentioned in the Kalshi market for Buckhout’s race

ALSO MENTIONED  Michael Selig, CFTC chair cited on the agency’s jurisdiction over prediction markets

Part of a bigger story

4 OUTLETS
Kalshi Suspends Laurie Buckhout and Permanently Bans George Santos

Kalshi fined Laurie Buckhout and suspended her from trading for three years after she wagered on her own congressional campaign. Center outlets place Buckhout’s penalty within wider concerns about trading on political outcomes and also cover Kalshi’s lifetime ban of George Santos. Right-leaning outlets focus on Buckhout’s fine and suspension, noting that the wager’s outcome and timing were unclear.

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