Former New York Republican Rep. George Santos on Wednesday challenged an NPR report that the Department of Justice is investigating him for allegedly benefiting from insider trading on the Kalshi prediction market.
Santos is alleged to have placed bets on his attendance at the president’s State of the Union address in February, according to NPR. Santos initially said he would personally attend the event — he was expelled from Congress in December 2023 — but he ended up watching President Donald Trump’s speech from an airport instead.
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Santos allegedly profited tens of thousands of dollars from the bet, NPR reported based on three anonymous sources. The exact amount was not disclosed in the article.
A DOJ official confirmed to the Washington Examiner that there is no investigation into Santos.
In a social media post, the former congressman challenged the allegations. “The [basis] of the accusation is preposterous and I look forward to supplying any information asked of me to any agency that inquires, till then media please do not inquire,” he posted on X.
Earlier in the post, Santos told reporters to stop asking for a comment after he was bombarded with hundreds of calls Tuesday night. He noted his lawyers are speaking with the DOJ about the reported inquiry.
“My legal team and I were made aware by a report from NPR yesterday that the DOJ might be looking into me,” Santos said. “So now my legal team is in contact with the DOJ to see what is going on.”
“I will comment further when appropriate and clarify everything accordingly while being mindful and respectful of any process that might be underway,” he added.
Santos seemingly responded to the NPR report late Tuesday, saying he doesn’t “engage with rag reporting anymore.”
DOJ INVESTIGATING GEORGE SANTOS FOR ALLEGED INSIDER TRADING ON KALSHI: REPORT
The Commodity Futures Trading Commission reportedly opened an investigation into Santos regarding the bet after Kalshi is said to have frozen his account and reported the case to federal authorities. The agency told Politico it “can’t confirm or deny investigations.”
The onetime congressman was once embroiled in legal scrutiny stemming from federal charges of aggravated identity theft and wire fraud. Santos pleaded guilty to the charges after he was expelled from the House and began serving a roughly seven-year prison sentence last year before Trump commuted his court-ordered punishment in October.
