What does "protected by 'free speech'" even mean? Who is this free speech and how are they protecting or not protecting anything?
Fraud is a form of speech. It's putting ideas out into the world -- ideas that induce a false understanding in another, typically to reap some material benefit to the fraudster... but lots of the protected forms of speech do that.
The state punishes this speech by outlining a procedure for a harmed party to punish the fraudster, backed by the authority of the state (i.e., lawsuits).
Just because speech is part of a contract doesn't magically transmogrify it into non-speech. Besides, what even constitutes a "contract" isn't something we can say is fully and perfectly defined...
So here we have speech and punishment for it. That sums up to censorship. And how do we decide what is and isn't "fraud" and so does or doesn't qualify as protected speech? It's complicated. Very complicated. We have a huge statutory framework. Legal tests. We're still trying to specify the line. The target shifts through all of history. Cases get overturned and updated and our frameworks and tests evolve. Sometimes we go too far. Sometimes not far enough. Sometimes the shifting reality of how our society operates changes the balancing point. Sometimes we have simply been wrong and regretted it.
Now I think I know what you actually are trying to say. That political speech needs to be highly protected from government meddling. That's hardly a radical idea. I don't know any credible person who disagrees with it.
But there's also a significant legal grey area between which, for example, it becomes hard to identify where political speech ends and direct calls to violence start. Surely it isn't protected for a political leader standing in front of a riled mob to point across the street to his political enemy and shout "go kill him, now!" But where's the exact point where the rhetoric shifted from "proper" political speech to a call to violence, exactly? How much subtext and implication are we going to accept? How riled does the crowd have to be? Either way, by outlining a point where speech can end you up punished, we've censored that speech. And censorship through civil action is still censorship, don't be confused.
In its best form, the state exists to help balance rights in tension. When one person's speech rights are out of balance with the harms that speech inflicts on another (such as in fraud or an incitement to violent), the state exists to mediate that. And we should want it to be just and fair when it does, and balance that tension in a way that creates the best possible environment. Join the reasonable people and discuss where you think things fall on that balance. Don't pretend there's some magical and inviolable difference between this censorship and other kinds that are acceptable, though. Have a reason.
I don't think he's being sincere.