Kalshi Probes Bets on Trump’s Pick for New White House Press Secretary
The prediction market is examining a series of trades that correctly predicted the appointment of Katie Zacharia, who wasn’t previously seen as a front-runner.
Investigative reporters at The Wall Street Journal reveal that prediction market operator Kalshi is probing suspicious bets placed on the selection of President Donald Trump's press secretary, Katie Zacharia. According to the WSJ's analysis of publicly available trading data, the investigation centers on three small wagers placed prior to Zacharia's announcement on Friday.
One bettor wagered $19 at 10:43 p.m. ET Thursday, with a potential payout of $1,896, while two other wagers of $74 and $80 were placed around 1:41 p.m. ET on Friday, resulting in projected payouts of $3,689 and $4,023, respectively. Zacharia, a conservative commentator, did not appear to be a leading candidate, as Kalshi's market had assigned her just a 1% probability of securing the position.
Trump confirmed her appointment in a Truth Social post on Friday afternoon. The White House declined to comment on the WSJ's request for information. The probe comes amid growing concerns over prediction markets, especially regarding potential misuse of confidential government information. A similar case saw Gabriel Perez, former teleprompter operator for Trump, facing legal consequences after profiting from wagers on the president's speeches, ultimately settling with the Commodity Futures Trading Commission in August.
The White House had previously cautioned staff against using nonpublic information for personal financial gain following suspicions of illicit trading linked to the Iran war. Kalshi keeps track of trader identities, although individual trading activity remains anonymous to the public.
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