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About Penalty Series
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.
How to play Penalty Series
Each settlement involved cooperation with Kalshi’s investigation.
What distinguishes Santos’ penalty is the exchange’s allegation that he actively issued false or misleading statements to alter prices and profited materially, violating additional rules such as failure to cooperate and manipulative conduct.
These breaches escalated his sanction to a permanent ban and a significantly larger fine compared to others involved.
How to play Penalty Series
Aldrin monitors product changes, advertising, social media activity, app-store rankings and trading volume across prediction market operators. Patel said the objective is to connect those indicators and show how a product launch supported by advertising affects volume and market share.
Below the largest exchanges, he sees numerous operators competing for relatively small shares of a fast-growing category. “If you get 1% of this market, I think it’s a huge opportunity,” Patel said. “There are a lot of people fighting to get 1%.”
Jefferies estimates exchanges can retain approximately 65% of explicit transaction fees, with the balance distributed across clearinghouses, brokers and liquidity providers. It therefore expects more operators to bring parts of the infrastructure in-house.
