Former NY Rep. George Santos under investigation for alleged insider trading on Kalshi

Former Representative George Santos faces a federal investigation for alleged insider trading. Prosecutors allege he used confidential information from congressional committees to profit from trades in securities tied to policy discussions. The case highlights concerns about lawmakers exploiting privileged data. A special counsel has examined trading records and identified suspicious patterns shortly after key legislative actions. Santos has denied wrongdoing, arguing that his trades were routine. The investigation is ongoing, with potential charges pending. The episode underscores the need for stricter oversight of financial activities by public officials and may prompt reforms to prevent future abuses in the national market.