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Kalshi’s compliance department uncovered a series of large trades made by Santos throughout February 2026 involving contracts that would pay out based on whether he attended the State of the Union address on 24 February. 

The exchange reported that Santos then issued public statements regarding his attendance, some deemed false or misleading, that were deliberately aimed at influencing the price of “Yes” or “No” contracts connected to his attendance. 

Kalshi stated that these statements successfully moved market prices and that Santos realised profits totalling $17,839.57 from the trades. After detecting Santos’ trades, Kalshi froze his account then referred the matter to federal authorities, NPR reported. 

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Patrick Bergin, an attorney for Scotts Valley, rejected that argument, noting the difficulty of converting a site explicitly planned and built for gaming into something like an auto dealership.

Bergin also emphasized that the tribe had formally notified Interior twice about its launch timeline for the Preview Casino, providing regular progress updates without ever receiving a directive from federal officials to halt the project.

The conflict stems back to January 2025, when the outgoing Biden administration initially determined that the Vallejo parcel was eligible for gaming.

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Mircheva’s resignation will be effective from Friday, although she will remain with the company until the end of September to “ensure a seamless leadership transition”, with the search for her replacement already under way.

George Papanier has taken on Mircheva’s role as CFO on an interim basis. Papanier will continue in his current roles as Bally’s president and a member of its board of directors.

Papanier has over 40 years of experience in the gaming industry, previously serving as CEO between February 2011 and October 2021 having first joined the company as COO in 2004.