New York, New York – Disgraced former Congressman George Santos is facing serious allegations of insider trading and a possible federal investigation, sources told multiple news outlets on Tuesday.
Online prediction market Kalshi reportedly flagged a potentially illegal trade Santos made using their platform in February and reported it to the Commodity Futures Trading Commission (CFTC).
As a result, multiple outlets have reported that federal authorities are investigating Santos for placing a bet on whether he would attend President Donald Trump's State of the Union address.
While Santos had shared his desire to appear at the event on social media, he ultimately pulled out, citing travel issues.
According to numerous sources, the Department of Justice is investigating the allegations – which could amount to insider trading – but neither the DOJ nor the CFTC has responded to requests for comment.
"I hate to disappoint, but I don't engage with rag reporting anymore," Santos declared on X in response to the allegations. "Business as usual on my end, haters!"
If an investigation is indeed underway, it would come only a little over six months after Santos was released from prison following a pardon from Trump.
He had been convicted of wire fraud and aggravated identity theft as part of a plea deal in 2024 and was sentenced to 87 months in prison for his crimes.
By the time Trump pardoned him in October, 2025, Santos had only served three months.
"I'm pretty confident if President Trump had pardoned Jesus Christ off the cross, he would have had critics," Santos said after his release. "So, that's just a reality of our country."