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Santos’ case represents the most severe among four disciplinary settlements announced by Kalshi, which has faced increasing scrutiny concerning insider knowledge risks and event outcome influence by market participants.

Santos is not the only individual disciplined for trying to game the prediction market system. Ben Midgley, a Republican candidate for the governorship of Maine, admitted purchasing under $1,000 worth of contracts related to his campaign. He accepted a $5,434.30 fine and a three-year suspension.

Meanwhile, Laurie Buckhout, a candidate for a North Carolina congressional seat, was fined $2,589.96 and suspended for three years after buying under $1,000 of contracts linked to her race.

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“We have made progress, such as increasing the direct tax to 15% and including the activity in the Selective Tax. Those benefiting from social programmes and those who joined the Desenrola programme were also prohibited from betting.”

He also pointed to the self-exclusion mechanism adopted by the government.

“The debate about prohibition will remain open in the country for the next few years,” he said. “It will be an institutional debate between the Supreme Court, Congress and the executive branch.

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The Gambling Commission suspended both licences with immediate effect on 28 August after enquiries revealed suspected social responsibility and AML failings. Reviews are now taking place under section 116 of the Gambling Act 2005. But in the wake of the suspension, the two sites have bowed to the inevitable and shut down completely.

According to the Commission’s licensing registry, Bet St George surrendered its four gambling licences on 4 September. BresBet surrendered its own licences on the same date.

It is important to stress that the Commission has not published detailed findings or established that breaches occurred. Customers can still access their accounts and withdraw funds. Following the closures the sites still provided messaging about the suspended licences.