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Kalshi enforced penalties under multiple exchange rules designed to mirror federal market regulations. These include prohibitions on trading when a participant can influence the outcome of an event, trading on material non-public information and engaging in manipulative or fraudulent practices.

The sanctions, effective from 28 August 2026 , bar Santos from any direct or indirect trading access on Kalshi.

Earlier this year, fellow prediction market platform Polymarket also ended its paid relationship with Santos amid a Department of Justice investigation over whether he had placed a wager on his appearance at the same State of Union address. 

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Many of the victims weren’t happy Pietras was offered a plea deal.

As for myself, and I’m sure all the others affected, this is not nearly enough for the amount of pain and anguish he has caused so many families,” Alison Greene, whose mother, sister, and aunt are victims, said outside the courtroom, as reported by CT Insider.

Pietras faces more than 40 lawsuits from clients who are seeking the return of their money.

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At his 2021 sentencing, she described Rashid’s past behavior as “monstrous” and said his victims endured conditions resembling imprisonment.

Rashid began supervised release on July 14, 2023, and was scheduled to remain under federal monitoring until Sept. 17, 2026. The new 17‑month sentence will return him to federal custody, where he will serve the remainder of his term before supervision resumes.

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