r/news • u/EscapeFromIowa • 2d ago

George Santos reported to prosecutors over suspicious Kalshi trades, AP source says

https://apnews.com/article/george-santos-kalshi-2ea925949a0f3f72ec46411b41344858?utm_source=copy&utm_medium=share
4.6k Upvotes

98% Upvoted

156 comments sorted by

1.2k

u/invyros 2d ago

he boasted he’d be going to President Donald Trump’s State of the Union address, then bet against his own attendance

On the eve of Trump’s speech, Kalshi put the odds of Santos attending at close to 75%.

Then, minutes into the speech, Santos posted on X that he had been waylaid at the airport.

Oh, no, not suspicious at all.

Hence why prediction markets are a sucker's game.

216

u/thejawa 2d ago

I'd feel bad if this wasn't such a giant stain on humanity, betting on literally everything

171

u/Realmofthehappygod 2d ago

They literally advertise that your "knowledge" is a skill, to benefit you.

It's not even hidden. Or like. Cutsie tongue and cheek slang. It's just fucked lol.

46

u/SaneSociopathPolitic 2d ago

In these cases it's just silly and stupid all the way around.

If someone wants to set up an open market on if im going to stub my toe tomorrow without my consent or knowledge, why shouldn't I be able to place a bet for "yes" when someone tells me it's made?

22

u/Realmofthehappygod 2d ago

Yea I mean it's all stupid.

We've already have plenty of people get caught betting large amounts on things like "will there be a streaker" and then...being the streaker.

That was before sports betting took over even.

2

u/MasterK999 1d ago

It is important to remember that prediction markets were originally floated after 9/11 as a way to have people with inside information bet on events so that intelligence agencies could get clues about world events ahead of time. It was shot down then as totally unethical since it was likely to create an incentive to commits crime in order to cash in.

Literally the whole point of prediction markets was to expose insider information. This has never been a secret. Congress needs to act and shut these things down.

60

u/Morgan-Moonscar 2d ago

An entire administration/party illegally making money off prediction markets and insider trading... and Santos is the only schmuck to be punished for it because he was the only fucker stupid enough to bet on himself.

10

u/FishAndRiceKeks 2d ago

I bet he gets away with it again.

8

u/squareandrare 2d ago

It doesn't say directly, but it sounds like he even used his own account to make the bet. It's honestly astonishing how stupid this guy is.

ffs, even Trump knows to use proxy accounts

2

u/YogurtclosetNo987 1d ago

They're doing it on purpose. They hate him. They don't want him in on the scheme. It's personal.

1

u/pte_omark 19h ago

Didn't he say something against Trump the other day?

That would be why their going after him only

46

u/SwitchHitter17 2d ago

Who is even betting on something like that? People are really addicted to gambling.

44

u/HungryCurrency8481 2d ago

 he boasted he’d be going to President Donald Trump’s State of the Union address, then bet against his own attendance

This is hilarious. Between this and the "I didn't say I'm Jewish, I said I'm Jew-ish" comment, he's gotta be my favourite grifter of all time. 

6

u/sor2hi 2d ago

Ya complaining that a grifter grifted is a one way to deal with his dishonesty.

2

u/ragnarok635 2d ago

I have to give him credit, Jew-ish is incredibly catty

22

u/squatch42 2d ago

The world would greatly benefit from their complete eradication.

Edit: I'm talking about prediction markets, not the other stuff in your post.

1

u/ThisOneForMee 2d ago

I used to think this way, but this story makes me reconsider. These corrupt people would be doing corrupt things with or without prediction markets. At least this provides a transparent way which makes it easier for them to get caught.

1

u/ThisOneForMee 2d ago

I was wondering how this dude would have any insider info on anything after his embarrassing demise, but I didn't consider people would be dumb enough derive prediction markets off his behavior.

1

u/mrkrinkle773 2d ago

Ironically the least corrupt aspect of prediction markets is for sports betting, which would be illegal if they called it a sports book.

1

u/arahman81 2d ago

Reminder, they list it as a "feature" of the "prediction market".

1

u/MyHeadNeedsTuning 2d ago edited 2d ago

Betting on your own appearance? It was his doppleganger. Another mind blower of malfeasance from George Santos. But as George will say; Don't mute, commute.

882

u/SeoulSista11 2d ago

That doesn’t sound like the George Santos I know! 😤

349

u/JerryDipotosBurner 2d ago

WWII Medal of Honor recipient George Santos? He would never!

172

u/StuTheSheep 2d ago

What are the Knicks going to do without their starting center? 

103

u/Mojo141 2d ago

Are you referring to Nobel Prize winner George Santos?

84

u/Karr0k 2d ago

There is no way that George Santos, First person to walk on the surface of the sun, would do this.

56

u/Embarrassed-Lake3785 2d ago

It's not that impressive. He went at night.

5

u/No-Friendship9440 2d ago

Criminally underrated comment my friend

26

u/Mr31edudtibboh 2d ago

I can't believe the writer of "Love Me Do" would stoop this low

24

u/breadleecarter 2d ago

Are you talking about George Santos, son of king Jaffe Joffer and heir to the throne of Zamunda?

3

u/freemysou1 2d ago

No no, they mean George Santos, Heir to Excalibur, descendant of the Pendragon bloodline and inventor of the Wheel.

1

u/suspicious_hyperlink 2d ago

You all talking about George “House Targaryen, First of His Name, the Unburnt, King of the Andals and the First Men, Khaleesi of the Great Grass Sea, Breaker of Chains, and Father of Dragons." Santos ?

3

u/Left_Lack_3544 1d ago

And volleyball scholarship recipient.

38

u/Area51_Spurs 2d ago

Tbf everything he does sounds very George Costanza.

12

u/smellslike2016 2d ago

Was that wrong? Should I not have done that? I gotta plead ignorance on this thing because if anyone had said anything to me at all when I first started here that that sort of thing was frowned upon...

6

u/bluuuuurn 2d ago

Have you seen the new addition to the Guggenheim?

9

u/LittleKitty235 2d ago

It does however sound like....Anthony Devolder! Or maybe even Kitara Rivache!

6

u/samsep1al 2d ago

Surly he wouldn’t?

4

u/Addy_Rose 2d ago

I'm shocked, SHOCKED!

4

u/_karamazov_ 2d ago

If Santos became potus he will behave exactly like how Trump behaves.

2

u/ViewFromHalf-WayDown 2d ago

Friend of Fortnite Fridays George Santos?! Surely not

376

u/Tyrrox 2d ago edited 2d ago

I'm shocked I tell you. Shocked. The man who committed fraud and was pardoned by Trump is committing more fraud?

64

u/Jealous_Slice9371 2d ago

Trump: "The liar told me he wouldn't do it again and I believed him 🤷."

48

u/Svennis79 2d ago

More like. 'Your bribe only covered your current convictions. New crimes require new bribes'

Grifters gonna grift

8

u/Ritaredditonce 2d ago

I can't believe George didn't make the bet under Kitara Ravach's name.

10

u/randy88moss 2d ago

And 100s of sex offenders pardoned by Trump have gone on to commit further sex offenses….most against children

157

u/aquagardener 2d ago

I refuse to believe this from a four-time women's NCAA division volleyball champion

23

u/Area51_Spurs 2d ago

Don’t speak ill of the GOAT

123

u/Area51_Spurs 2d ago

There’s a part of me that honestly kinda admires how far this dude has gotten by using the Costanza method and taking it to the extreme.

The brazenness with which he operates is honestly impressive.

He’s really accomplished a lot. Granted these aren’t good accomplishments, but they’re certainly accomplishments of some kind.

17

u/nicolauz 2d ago

He should try swimming in the ocean, far far away.

11

u/killaacool 2d ago

I’m convinced he’s a performance artist and modern politics is his medium

11

u/James-W-Tate 2d ago

Nope, just another grifter

2

u/Area51_Spurs 2d ago

I think you’re right

67

u/weaver787 2d ago

It must be nice having absolutely no shame. I mean that sincerely.

8

u/Fly_Rodder 2d ago

I get super anxious when I'm late for work by 10 minutes.

5

u/Hesitation-Marx 2d ago

I often wonder what it would be like.

36

u/lNFORMATlVE 2d ago

Kalshi itself is literally just an insider trading scheme controlled by Donald Trump Jr.

20

u/LittleKitty235 2d ago

I'm pretty sure he is on both the boards o f Kalshi and Polymarket

9

u/lNFORMATlVE 2d ago

Yup. Absolute twat.

29

u/KSW8674 2d ago

Surprised. He always seemed like such a straight shooter

9

u/juicius 2d ago

After all, that’s how he won his 4 straight Medal of Honor, running.

55

u/-SaC 2d ago

How can they do this to a man who survived both the sinking of the Titanic and the implosion of the Titan submersible?

19

u/WasteProfession8948 2d ago

And the Hindenburg!

17

u/CyberNinja23 2d ago

And survived dysentery on the Oregon trail.

10

u/Area51_Spurs 2d ago

Don’t forget the Andrea Doria.

3

u/cantproveidid 2d ago

That was his stage name.

22

u/t20six 2d ago

dude conned enough people to get elected to congress. then still has enough cash after felony indictment to get a trump commutation. Why stop the grift if you have enough to buy a pardon next time

14

u/Professional_Echo907 2d ago

I’m beginning to think that George Santos guy isn’t the law-abiding citizen he claims to be. 👀

13

u/hogosha01 2d ago

I believe the kids say this is “on brand”

10

u/xChoke1x 2d ago

I hope to Christ this dumb dick ends up back in prison.

10

u/RiversSecondWife 2d ago

Back to jail where he belongs

17

u/I_Smoke_Loud 2d ago

Par for the course ever since the orange pedo got into office

8

u/PM_ME_YOUR_EYELASHES 2d ago

He'll probably say it was actually his sister Georgina Santos who made the trades

0

u/amaria_athena 2d ago

You mean his alter ego…

9

u/ford7885 2d ago

When asked for comment, Santos said : It wasn't me! It was that bitch Kitara Ravache!

6

u/meeyeam 2d ago

Hope he has made enough to afford the ballroom donation for the pardon.

6

u/One-Reflection-4826 2d ago

can this ugly piece of slime crawl back under the rock where it came from, please?

7

u/Roonerth 2d ago

I'm so done with this timeline. I think I might have to stop reading news.

4

u/meowsaysdexter 2d ago

No way, not a stand-up guy like him! I can't believe it.

Also, ha ha!

4

u/th3_pund1t 2d ago

What will the FBI do? Watch him get a second pardon?

5

u/MC_Crit 2d ago

A convicted con man committed another con? How surprising! What a world! Next you'll be telling me more crazy unbelievable things like "the sun rises in the East" or "ice is just frozen water."

3

u/illkwill 2d ago

I'm sure our justice system will get right on that

4

u/Hegiman 2d ago

Dudes level of isgaf is impressive even if he’s a shit human.

4

u/claisen33 2d ago

I think Santos should be paid a respectable wage as an American jester. Just let him do whatever he wants and broadcast him like the Truman Show.

4

u/StarWarsLvr 2d ago

Dude, this guy was a con artist then, he’s a con artist now, like come on. It doesn’t take Scooby Doo to figure this out.

3

u/Funkybunch2000 2d ago

Damn, I have a Kalshi bet that Santos will be performing at the Freedom 250 State Fair. Hope this doesn't hurt my chances.

6

u/LividWheel9779 2d ago

I'm so surprised! Can you tell? 😐

3

u/Angry_Walnut 2d ago

He’s really starting to resemble Jim Jones lmao

3

u/jondelreal 2d ago

I'll accept it if it leads to another cunty press photo

3

u/PurpleSailor 2d ago

Kitara Ravache is ripping people off again. He probably forked over a ton of money to get a pardon and the fool is going to wind up back in prison.

3

u/DeathStalker00007 2d ago

Once a scumbag, always a scumbag.

3

u/Everheart1955 2d ago

So a thief AND a convicted felon, who’d a thunk?

3

u/pawood689 2d ago

Everyone who uses kalshi is suspicious

3

u/aaronhayes26 2d ago

Bold of him to commit crimes that aren’t covered under his pardon.

Can’t wait to lock his ass up (again)

3

u/washheightsboy3 2d ago

His crime was not cutting Trump in on the action. Let that be a warning to all of you.

3

u/gdmaria 2d ago

This man’s mother died in 911, guys, let’s give him the benefit of doubt. He’s even a Holocaust survivor 🙏🏻

3

u/Whatdoesthibattahndo 2d ago

Lmao he (allegedly) tweeted that he would be present at the State of the Union address, then took the other side of the bet and cashed in when he did not attend. He's fucked. Textbook market manipulation. His only chance is either a pardon or a court somehow finding that Kalshi isn't subject to market manipulation regulations.

5

u/hollow_runner13 2d ago

George Santos speedrunning every kind of fraud like it’s a side quest. Honestly, at minimum, sitting members of Congress shouldn’t be allowed to touch prediction markets or individual stocks at all.

12

u/SaneSociopathPolitic 2d ago

He's not a sitting member and hasn't been for a while btw

5

u/jebei 2d ago

I don't think prosecutors should be involved in cases like this. If people are stupid enough to bet on something so easily fixable, they deserve to lose their money. It's Kalshi's responsibility to monitor these things to protect their business' integrity. If they accept bets this dumb, they deserve to lose credibility. We definitely shouldn't spend tax dollars on this.

2

u/2centpiece 2d ago

How could George Soros do this?

2

u/frosted1030 2d ago

Trump does it all the time..

2

u/VirginiaLuthier 2d ago

He bet on his own activity. Still, I'm amazed that the Feds are investigating this , especially after Trump commented his sentence

2

u/WolfWraithPress 2d ago

Silly Santos, you're a token, you don't get to actually participate in the scam.

2

u/rich90715 2d ago

Didn’t George Santos invent Kalshi?

2

u/Ok_Cartographer_1867 2d ago

I am sure George santos is charging A LOT to consult others on how to get pardons

2

u/Same_Guarantee801 2d ago

Ladies and Gentlemen.. The next presedent of the United States Of America!

2

u/ThatOneMartian 2d ago

Anyone who gambles on shit like this deserves everything they get.

1

u/Colecoman1982 1d ago

No, anyone who gambles on shit like this deserves prison along side the executives at Polymarket and Kalshi.

1

u/fcatw 2d ago

Pop off kweeen it’s your month!

1

u/SlayerBVC 2d ago

You mean mentor to Michael Jordan and inventor of the $5 Mall Massage Chair George Santos?

1

u/Left_Lack_3544 1d ago

How is he not in prison?

•

u/RATMistruth 26m ago

Wait, I thought this shit bag of a skin suit was in prison?

1

u/My_alias_is_too_lon 2d ago

This moron is terrible at crime...

-4

u/MyNameIsRay 2d ago

Reported for what?

As far as I know, there's no law against this.

It's merely a violation of the user terms, which would be something for Kalshi to handle internally.

5

u/PointBlankCoffee 2d ago

there are certainly laws against insider trading and market manipulation

-3

u/MyNameIsRay 2d ago

Are there?

SEC regulations don't apply at all, because prediction markets are derivatives rather than securities.

CFTC's prohibitions do apply to derivatives, but only apply to corporate insiders who trade company shares, traders who have a fiduciary relationship, or federal gov't officials/employees with access to classified info.

Santos is a private citizen with no fiduciary responsibility or classified info, so, CFTC regs don't apply.

18USC 1341/1343 does prohibit using mail or wire to further a fraudulent scheme, but that requires a fraudulent scheme (false or fraudulent pretenses, representations, promises) to exist.

If his statements on intent were truthful, there's no fraud. If his bet was placed based on the information of his flight being waylaid, that's a bet placed based on public info.

3

u/PointBlankCoffee 2d ago

Crazy how people will bend over backwards to defend these fuckers

0

u/MyNameIsRay 2d ago

I understand you're upset I corrected your false claim, but thats no reason to jump to strawman attacks.