The U.S. Department of Justice has launched an investigation into George Santos, the former congressman from New York, for alleged insider trading on the prediction market Kalshi. Reports indicate that Santos, who recently completed a prison sentence for wire fraud and identity theft, may have manipulated betting odds related to his attendance at President Donald Trump’s State of the Union address in February. Following his announcement on social media confirming his attendance, the odds spiked, but he later retracted, stating he would watch the address from an airport. This fluctuation in betting odds raised suspicions, prompting Kalshi to report Santos' trades to the DOJ and the Commodity Futures Trading Commission (CFTC), leading to separate investigations by both agencies. Santos, who was expelled from Congress in December 2023 after being indicted for fraudulent fundraising practices, had previously pleaded guilty to multiple charges, resulting in a prison sentence commuted by Trump in October 2024. The investigation into his Kalshi activities adds to his ongoing legal troubles.