Just In: George Santos (R) told the public he was going to the State of the Union, then bet against himself on Kalshi to make $17,570
The CFTC fined the former congressman $17,500 and ordered him to give up his $17,570 profit
He's also banned from prediction markets for 3 years
Breaking: President Trump's account bought Amazon and Apple before he cut China tariffs and then his administration paid both companies billions in refunds
On May 5th, Trump's account bought $5M of Apple and $5M of Amazon
The next day, Treasury Secretary Bessent told Congress the US had "not engaged in negotiations with China as of yet"
9 days later, he cut tariffs from 145% to 30%
Both stocks have since surged:
โข $AAPL is up 7.5%
โข $AMZN is up 4.5%
His account is now sitting on up to ~$600K in unrealized gains
And recently, Apple disclosed $2.2B in tariff refunds and Amazon disclosed $600M
Another win for corporations, another loss for Americans
President Trumpโs tariff refunds for:
โข Walmart $WMT: $2.4B
โข Apple $AAPL: $2.2B
โข Target $TGT: $2.2B
โข Ford $F: $1.3B
โข Nike $NKE: $1.0B
โข Amazon $AMZN: $600M
โข General Motors $GM: $500M
โข UPS $UPS: $500M
Your refund:
โข $0