The podcast episode focuses on former Congressman George Santos, who is once again in legal trouble for alleged insider trading. After being released from prison early due to a commutation by President Trump, Santos posted a video on social media claiming he would attend the State of the Union address. He then used the prediction market Calci to bet against his own attendance, profiting tens of thousands of dollars when he failed to appear. The platform detected the suspicious activity, froze his account, and reported him to federal authorities. The Commodity Futures Trading Commission and the Department of Justice have both launched investigations, and Santos could face new criminal charges. The hosts note that this behavior is consistent with Santos's history of deception, including his election on a fabricated resume and his previous conviction for wire fraud and money laundering. The episode also highlights other recent insider trading cases, such as a special forces officer who bet on the arrest of a Venezuelan leader using classified information and a Google employee who profited from internal search data. The discussion underscores the risks of using non-public information for financial gain, even as some individuals attempt to exploit prediction markets for profit.
This is an I Heart Podcast. Guaranteed Human. Hey guys, it's us, the Jonas Brothers, I'm Joe. I'm Kevin. And I'm Nick and guess what? We created our own podcast called Hey Jonas. We invented a podcast. Well, we didn't invent it. We just contributed to it. We're the first people to do podcasts. We get to ask other people questions because we're sick and tired of being asked questions. Well, sick and tired is a strong way to put it, but you know, tired and sick. Tired and sick. Listen to Hey Jonas on the I Heart Radio app, Apple Podcasts or wherever you get your podcast. Just listen, we don't care where you hear it. June is Black Music Month and on the Drink Chams Podcast, we're speaking with the hottest names in the culture, like Swaley. Do you realize how legendary you are? I appreciate it. I'd be seeing it, but I'm like, I mean, I still got like so much more to do. Like, Prince, he's got like 30 albums. We just like fire right now. That's the rate we got to be going. Yep, that's a good attitude. No matter the era, Drink Chams brings you the biggest names and the most unfiltered conversations. Listen to Drink Chams from the Black Effect Podcasts Network on the I Heart Radio app, Apple Podcasts or wherever you get your podcast. Hey everyone, this is Teddy Malinkam. And Tamra Judge from Two Teas and a Pod. There's been one scandal that's consumed our lives these last couple of months. We're recapping the three parts Summer House reunion and as always, we're being brutally honest. We're dissecting timelines, receipts, blind items and previous episodes. Amanda and Wes, watch out. We're not getting the easy on you. Listen to Two Teas and a Pod on the I Heart Radio app, Apple Podcasts or wherever you get your podcast. Here's something that should not be as complicated as it is. Getting a racist statue removed. And here's something that should be a whole lot easier than it is. Getting a new one put up in its place. I'm Akila Hughes and Rebel Spirits Season 2 is about both of those things. As I was watching these statues come down, I was thinking about what it meant that I grew up in a majority black city in which there were more homages, toen slavers than there were toen slave people. Listen to Rebel Spirits Season 2 on the I Heart Radio app, Apple Podcasts or wherever you get your podcasts. Hey there folks, it is Wednesday, June 3rd. He was sentenced to seven years in federal prison, but he got out after only four months. What a blessing, right? But it seems like former congressman, former very controversial congressman, Joros Santos is trying to go right back to prison. And with that, welcome to this episode of Amy and TJ. Rose, he hasn't been out of, I mean, what a gift. Trump got him out of prison. What a gift. Yes, seven years in federal prison, he only served four months and then it only took him four months later to do something that very well may land him back in prison. How he wasted no time. How do you go from getting out of federal prison in four months later, you are under federal investigation again for something brand new, by the way. And when you look a little bit deeper into George Santos, it appears maybe this is just who he is. It seems as though he's built up a lifetimes worth of, well, let's just say getting away with stuff or lying about things and sometimes facing the consequences, but not really. Hey there, that classic line from NFL coach, can't remember his name. They are who we thought they were. Exactly. He is who we thought he is. He, he's talking about staying on brand. Believe people when they show you who they are, he's been screaming and trying to tell everybody who he is. This is George Santos. This is the guy who was elected to Congress and was under indictment a few months later and kicked out within the same year. That's the guy we're talking about. George Santos is in trouble once again. Why possible insider trading robes on these prediction markets. This is ridiculous and he is just the latest in a recent fairly significant. Long list of public folks making really stupid decisions because somehow they think. I mean, when you're a name, especially, and you have inside information, whether you're a Google employee or a federal employee, when you have information that only you could have, and then you use it to place a bet, that's illegal. Very much so and can get you prison time. We're not just talking about fines. This is a big deal. The funniest part if there is going to be one about this story role, just the ridiculousness of, and the boldness, I guess, of what he was doing and how he thought he was going to get away with this because he was being very public about this whole situation that has now landed him in trouble. Yes. So Congressman, I guess just say former Congressman George Santos, who had just, yes, recently been released from prison, pardoned by President Trump in October, takes to social media to announce to everyone on X in a video saying, I'm going to be there for the state of the union and the gallery guys, like he was so excited, right? To be a part of the state of the union after having been in prison. Now he's free. Now he's going to sit there and watch the man who set him free, give his address to the nation. This is a big deal and people were curious. So we've been learning more and more about these markets, these prediction markets, the big ones, polymarket and calcium. Yes. So this one in particular, calcium, when he put up that tweet saying, I'm going to be there at the state of the union in the gallery guys. Well, the odds went up and people you can bet on just about anything, but rogue people were betting on who's going to attend the state of the union. They were bets on Al Green, right from Texas. They were just bets. Who's going to be there? What's going to happen? He puts out this tweet. The odds go up because people think, let me put some money on this and I'm going to make some money. Okay, fine. State of the union rolls around. President walks in, gets the talking, looking around the gallery, robs. Don't see Santos. Yeah, and in fact, he then gets on X once again and says watching state of the union from an airport TV was not part of the plan. exclamation point, FML, which I think most of us know what that means. Okay. So my life like, oh, whoopsie. This wasn't planned. Can't believe I turned out not to be able to watch the state of the union there in the whole world. Now, at the time, a late person like me would have just seen an oh, he thought he's going to go. Maybe he couldn't get a ticket. Maybe he couldn't get access. Maybe he couldn't get clearance. Maybe his flight got so who knows. I wouldn't have thought anything else about it at all. However, some people did notice in robes, the market itself notice Calci because robes before he put out before he put out that second tweet about the airport. He did a little something that got him in trouble. Yeah, he plays some bets on himself, not attending the state of the union. And guess what? When he put out that initial video on X, as you mentioned, the odds went up. There were just to give you an idea because this is not a victimless crime. People lose money. And so there were millions of dollars worth of bets placed on who would be at the state of the union address. And absolutely Santos was a part of that equation. When he then puts up the next video while the president is giving his address saying, oops, I'm not there. The, the odds dropped. But here's the deal. He had already placed the bet that he wasn't going to be there. So he cashed out and according to several news outlets, he scored tens of thousands of dollars in profits on betting against himself because he knew the charge may be that he wasn't going to attend. And deliberately made that bet. It was information only he had that of course is illegal. Now robes the site itself caught this pretty immediately. And they seem to be on top of it because they turned his butt in quickly. They did. They froze his account. They sent over all the information they had to the commodity futures trading commission and the Department of Justice, which have now both opened formal investigations. Investigations into Santa. So yeah, this is criminal. He could be going back to prison and this seems fairly black and white when you look at what Cal she says happened. I don't know how he has a defense to any of this. Maybe somebody else was messing around in his account. Maybe robes he honestly, honestly, how could he have made a non-honestly bet? Right? How could you have bet against yourself going and then go? You're going to lose money. I mean, so no, there's no way to explain. Okay. Sorry. I'll try to make it make sense. Exactly. And so this is a fairly stunning. I'm not going to say obvious, but clearly it's understandable why the Justice Department is looking into this now. And look, I don't know how President Trump feels about pardoning somebody and look to understand who this man is. He had been charged with. He was hit with an indictment in May of 2023. He was sworn in as a representative in January. So we're just talking months later. He is charged with 13 counts of wire fraud, money laundering and stealing money from political donors. So yeah, he is a history of deception and profiting from that deception. He was expelled from Congress later that year. And yeah, he was sentenced to more than seven years in federal prison. But again, I threw a lot of people.
people out yet he's a republican but uh. president kind of went out in the limb and got him out of print and can you remind me did he part of the more just commuter the senate i can't remember which was i don't so i don't know if the thing has been thrown out or he commuted his sense okay so he got him out of prison look that was a huge that's a new lease on life roaps you get a new opportunity this made me think of just in this moment as we've been doing this oj you remember oj served all that time you remember you remember stealing his own memorabilia back like you were found not guilty of murder when everybody is pretty damn sure you're the murderer even after you wrote a book if i did it and detailed how you did it but think about that you got away with murder and then you go into prison for stealing some cards this guy got out of prison roaps seven years of a long time that's a very long to infest a new lease on life and really came out and did that yeah and by the way to get elected and he's he's from new york republican congressman from new york he ran for office on a resume of lies literally his personal life everything he detailed two voters that got him elected were lies it's not just lying about your gpa a little bit no he's not just this is major like verifiable stuff this is big time here are the lies his lies were that he graduated from barooq college in the top one percent of his class impressive didn't happen he said his mother was working in the south tower of the world trade center during the september eleventh attacks she wasn't they're not true he said he was jewish he's not that's tough he claimed his grandparents escaped the holocaust they did not they didn't it's as if everything he said to get elected was lies he gets elected then while in office he gets slapped with all of these criminal wrongdoings he goes to prison he gets that commuted and now months later he's back at it again and here's the point where robes i always put in the disclaimer that he is an innocent maim until proving guilty in the court law right yes till who knows maybe there's a and the excuse smers there's a perfectly good explanation for all of this but as we say oftentimes robes this really is on brand for him this really really is the lies deception cheating money wire fraud it it's all he's been convicted of all that stuff and here he is once again facing it now we're talking about this here now in this particular case that's kind of mind blowing that he could think he would get away with this but there have been some recent cases where people made a whole lot much more money than just a few tens of thousands they got caught to their facing charges to will remind you stay here hey it's us the Jonas Brothers and guess what we have some big news what's the news news we created our own podcast called hey Jonas we invented a podcast well we didn't invent it we we just concluded first people to do podcasts pretty yeah pretty wide range of podcast right there but this one's extra special so how do we how do we actually come up with the name hey Jonas guys i honestly don't remember i think it was on a call about what we should call it and oh we are thinking i'm originally calling it one of the early names of our band before Jonas Brothers this is how you guys remember it going down yes i have a very different memory of this we were talking about a thing a bit for the podcast we could call in and say hey Jonas and then i broke down in my little notepad hey Jonas and offered it up as a potential title of the podcast but thanks for remembering that guys listen to hey Jonas on the iheart radio app apple podcast or wherever you get your podcast just listen we don't care where you hear it you can have opinions you can have like a strong stance and then there's your body having its own program i'm dr. 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some woodclaim was a very deceptive video to say i'm going to be at the state of the union then he bets on calchi that he's not going to be there and oopsie in the middle of the speech he puts out a a tweet saying oh turns out i couldn't make the speech can't believe i'm watching here at an airport lounge he you messing with the markets they take that stuff very very seriously the world people lost money on his deception that is a big issue and roams we um the one that made the biggest headlines we couldn't believe this one either roams this was out the villas wail array which is what yes in what January yes um special forces guy right what are you special forces he was special forces he was he's that guy who you who helps you sleep at night he's that guy who's out there protecting the united sites of america he's that guy who we are grateful is on that aircraft carrier and headed to whatever region that dude that dude that dude uh yeah apparently he wasn't getting paid enough yeah i don't agree with that uh but yeah he made four hundred thousand dollars by betting exactly when maduro what what if he was and when maduro would be it was so specific yeah uh from his home country there was a date right across the united states to face justice and what so weird he knew the exact date well it turns out he was on the mission yeah that was that was a that was a tough one and he's a look they don't pay these guys as much he's a special forces guy think we look up it up it was like 90 grand it wasn't much to think about what they do gannon can vandite what they do to become who they are to stay as fit and fierce as they are and absolutely risk their lives you know i i know you can't do this i'm not i'm not mad at him for breaking off a little piece for himself now i would have preferred if he just would have walked by a gold bar while he was on the ground they put it in his pocket yeah but this was this was a little much yeah um alright and then this was another one that just made headlines because it was had such a bizarre connection to a big crime case here in the united states but a google employee bet that the what the number one google search trend would be of the year 2025 and he put the his bet as the most search person would be the singer known as david well here's the deal he's a google employee so he clearly had access to information that us mere mortals don't so he was able to
placed that bet fairly confidently. And he made $1.2 million on that bet, but now he too is facing criminal charges. - No, I don't mind. At least he went for it, right? No tens of thousands. If I'm gonna risk prison time. - 1.2 million dollars. - Go for it. Go for it. I don't know how folks think they can get away with this stuff. It's remarkable. Some of these, and look at some-- - Maybe people do, and maybe that's how some folks have gotten away with it. And look, who knows? Like I was already thinking, I don't know how they catch these people, and I understand why it's necessary. But couldn't you just ask a friend to do it and tell them, and then, or someone, someone who you might not be immediately connected to? I guess they'll, oh, like, you just go back to Martha Stewart. - Listen, you don't get into this. - I know, but I'm just thinking how dumb to do it yourself. Because obviously, you had inside information. And for you to financially gain from information that only you could know, you would think that's an obvious red flag for any company looking to police this, which they are. - Well, we will-- well, we wait because we don't know how quickly this investigation about the Commodity's Futures Commission and by the DOJ, how quickly those two might go. But he is undistrood, and he wants, again, I thought it was interesting too. I have it in the road, because when he MPR, I've been doing reporting on this story, and they did reach out to him. And apparently, he was lined to them as well on the phone. It seems like it's something he's really well versed in. But yes, when they asked him about this investigation, he said, that's news to me. He also claimed to have some personal connection with one of the Calci founders, because they're both from Brazil. And apparently, that too was not true that the Calci founders said, I have no idea who that is. And we've never met, but he said that they were close personal friends. Did you read that as well? - You're going to call again, right? - Yeah, he's going to call and get it all straight. Now, just some little misunderstanding. But then when he was asked, do you have a Calci account? His answer, I'm not saying yes, I'm not saying no. Okay. I guess it wasn't a lie. He just chose not to answer. - See? Please. Turning over to me. - Yeah. Therapy's helping. Folks, we appreciate you as always. This is a bizarre story with this guy out of Congress. But once again, back in the headlines, there's some of the same things that got him kicked out of Congress. But we always appreciate you spending a little time here with us. I'm TJ. I have a my dear Amy Roboc, we'll talk real soon. (upbeat music) - Hey guys, it's us, the Jonas Brothers, I'm Joe. - I'm Kevin. - And I'm Nick, and guess what? - We created our own podcast called, Hey Jonas. - We invented a podcast? - Well, we didn't invent it. - We're the first people to do podcasts. - We get to ask other people questions 'cause we're sick and tired of being asked questions. - Well, sick and tired is a strong way to put it, but tired and sick. Listen to, hey Jonas, on the iHeart Radio app, Apple podcasts, or wherever you get your podcasts. - Hey everyone, this is Teddy Malin Cam. - And Tamra Judge from Two Teas and a Pod. - There's been one scandal that's consumed our lives these last couple of months. - We're recapping the three parts summer house reunion, and as always, we're being brutally honest. - We're dissecting timelines, receipts, blind items, and previous episodes. - Amanda and Wes, watch out. Listen to Two Teas and a Pod on the iHeart Radio app, Apple podcasts, or wherever you get your podcasts. - Here's something that should not be as complicated as it is, getting a racist statue removed. And here's something that should be a whole lot easier than it is, getting a new one put up in its place. I'm Achila Hughes, and Rebel Spirit season two is about both of those things. - As I was watching these statues come down, I was thinking about what it meant that I grew up in a majority black city in which there were more homages, two enslavers than there were to enslaved people. - Listen to Rebel Spirit season two on the iHeart Radio app, Apple podcasts, or wherever you get your podcasts. - For years, the unhoused have been presented as a monolith in mainstream media. Weedian houses are podcasts that's changing the narrative. I'm Theo Henderson, and I created this show why was unhoused on the streets of Los Angeles. We've grown into a two time Webby Award winning podcast. The only podcast that shares unhoused stories and news from the unhoused perspective. Listen to Weedian House on the iHeart Radio app, Apple podcasts, or wherever you get your podcasts. - This is an iHeart podcast. Guaranteed Human.
Podcast Summary
Key Points:
Former Congressman George Santos is under federal investigation for alleged insider trading involving prediction markets, specifically betting against his own attendance at the State of the Union address.
Santos was previously convicted on 13 counts of wire fraud, money laundering, and theft, sentenced to seven years in prison, but was released early after a commutation by President Trump.
He posted a video claiming he would attend the State of the Union, then bet on the prediction platform Calci that he would not attend, profiting tens of thousands of dollars when he failed to show up.
Calci froze his account and reported him to the Commodity Futures Trading Commission and the Department of Justice, both of which have opened formal investigations.
The podcast also discusses similar insider trading cases, including a special forces officer betting on Maduro's arrest date and a Google employee profiting from internal search data.
Summary:
The podcast episode focuses on former Congressman George Santos, who is once again in legal trouble for alleged insider trading. After being released from prison early due to a commutation by President Trump, Santos posted a video on social media claiming he would attend the State of the Union address. He then used the prediction market Calci to bet against his own attendance, profiting tens of thousands of dollars when he failed to appear.
The platform detected the suspicious activity, froze his account, and reported him to federal authorities. The Commodity Futures Trading Commission and the Department of Justice have both launched investigations, and Santos could face new criminal charges. The hosts note that this behavior is consistent with Santos's history of deception, including his election on a fabricated resume and his previous conviction for wire fraud and money laundering.
The episode also highlights other recent insider trading cases, such as a special forces officer who bet on the arrest of a Venezuelan leader using classified information and a Google employee who profited from internal search data. The discussion underscores the risks of using non-public information for financial gain, even as some individuals attempt to exploit prediction markets for profit.
FAQs
The Jonas Brothers created a podcast called Hey Jonas where they ask other people questions, because they are tired of being asked questions themselves.
Drink Champs is a podcast that features conversations with the hottest names in music culture, including industry legends and hip-hop pioneers.
Two Teas and a Pod, hosted by Teddy Malinkam and Tamra Judge, recaps reality TV shows like Summer House with brutally honest commentary.
Rebel Spirits Season 2, hosted by Akila Hughes, discusses the removal of racist statues and the challenges of replacing them with new ones.
George Santos placed bets on a prediction market that he would not attend the State of the Union, using insider information, which led to a federal investigation for insider trading.
A Google employee used his access to internal data to bet on the most searched person of 2025, winning $1.2 million, but is now facing criminal charges for insider trading.
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