Prediction platform Kalshi has handed out its first-ever lifetime ban, targeting former Republican Congressman George Santos. Alongside the ban, Kalshi hit Santos with a $71,356 fine.

Why Santos Got Banned

According to Kalshi, back in February, Santos was trading contracts tied to whether he’d show up at the President’s address to Congress. He then made false or misleading public statements to sway the price of those contracts.

The Payout

Santos pulled in $17,839 from these trades. Now, in addition to being banned for life, he’s been slapped with that $71,356 penalty.

Why This Matters

This is Kalshi’s first lifetime ban in the company’s history.