Science & Technology
Science & Technology
Polymarket cuts ties with George Santos as regulators probe trades on rival prediction market
5 minute read Updated: 5:56 PM CDTNEW YORK (AP) — The online prediction platform Polymarket is ending its paid relationship with George Santos as federal regulators investigate whether the former congressman illegally bet against his own attendance at President Donald Trump’s State of the Union.
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.
The suspicious trades were detected by Kalshi and referred to the Commodities Futures Trading Commission, a federal regulator that has opened a probe into Santos for possible insider trading, according to a second person familiar with the investigation.
Both spoke to The Associated Press on the condition of anonymity because they were not authorized to discuss the matter publicly.
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