CFTC settles charges against George Santos over State of the Union event contract
The Commodity Futures Trading Commission said Santos must disgorge profits, pay a civil penalty and stop trading for three years after its order over an event contract tied to the 2026 State of the Union.
The Commodity Futures Trading Commission said Thursday that it filed and settled charges against former Congressman George Santos over trading in an event contract tied to the 2026 State of the Union.
The agency said the order requires Santos to disgorge $17,569.98, pay a $17,500 civil monetary penalty, cease and desist from further violations of the Commodity Exchange Act and CFTC regulations, and stay out of trading for three years.
The CFTC said the trading occurred between Feb. 12, 2026, and Feb. 25, 2026, in a contract titled “Who will attend the State of the Union?” It also alleged that Santos tried to affect the price of a swap tied to an event he controlled.
According to the agency, Santos posted on social media about whether he would attend the address while he was buying and selling positions in the contract. The CFTC said those posts contained material misrepresentations and omissions, and that the contract price later moved in a way favorable to his positions.
The commission said those trades allowed Santos to make more than $17,500. The CFTC did not provide additional procedural details in the press release, and the brief does not include a response from Santos.
The order is dated July 31, 2026, according to the commission’s release. The CFTC said the settlement resolves the charges and imposes the trading ban immediately under the terms described in its announcement.
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