Federal regulators are investigating former US Representative George Santos for potential insider trading related to wagers placed on the prediction market Kalshi. The Commodity Futures Trading Commission (CFTC) and the Justice Department were alerted by Kalshi after Santos made bets in February concerning his attendance at President Donald Trump's 2026 State of the Union address. Sources indicate Santos bet he would not attend but later posted that he would be present, only to subsequently state he watched the speech from an airport. The CFTC's enforcement division is examining whether Santos profited by deceiving the public and influencing market odds, with NPR first reporting these suspicious trades. Santos, who previously pleaded guilty to fraud and identity theft and was sentenced to over seven years for stealing campaign funds, reportedly told NPR the probe was "news to me."