Former deputy George Santos, son of Brazilian parents, is under federal investigation for alleged irregularities in an online betting market. The case involves a prediction website that identified suspicious activity linked to his presence at União’s Estado speech given by President Donald Trump in February.
Fontes familiar with the matter stated that the Kalshi website detected the movement. The account associated with the former parliamentarian was frozen. The case was referred to Departamento from Justiça and the CFTC, which regulates these markets.
Site identified account linked to Santos
One of the sources confirmed that one of the bets on Santos’s presence at the event belonged to himself. The former deputy had publicly declared that he would attend. However, he did not attend the speech.
- Conta was frozen after suspicious activity was detected
- Caso forwarded to Departamento from Justiça and the CFTC
- Apostas involved millions of dollars in various names
- Santos denies knowledge of insider trading investigation
Betting volume on the event was high. Usuários bet on the presence of figures such as Trump’s son, Barron, and other public names.
Histórico of Santos weighs in on the case
George Santos was arrested last year on fraud charges. Ele lost his mandate on Congresso. Trump commuted his sentence, and Santos served less than three months in prison.
Nova York’s former Republican deputy denied involvement in irregularities in the betting market. Ele told NPR, which reported the case first, that he was not aware of the investigation. CNN also reached out to Santos but did not receive a response.
Prediction Mercados Grows and Attracts Attention
Plataformas like Kalshi and Polymarket have gained popularity in recent years. Elas allows bets on political, sporting and cultural events. The federal government regulates the sector like commodity futures contracts.
Especialistas note that the rules may not keep up with the rapid growth of the segment. Federal Autoridades monitors possible abuses closely.
CNN partners with Kalshi for data, but prohibits its journalists from trading on these platforms. Departamento of Justiça has not yet commented on the progress of the investigation.