Kalshi hires Obama adviser
Schultz’s hiring comes as Kalshi users forecast a 91% chance that Democrats win a majority in the House and a 65% chance of a Democratic Senate majority.
News outlet Kalshi has recently hired former President Barack Obama's top political strategist, Eric Schultz, according to a source familiar with the matter. This move signals the increasing anticipation of Democratic victories in the upcoming midterms. Kalshi users appear to be confident, with a 91% chance of Democrats securing a majority in the House and a 65% chance of a Democratic Senate majority.
However, prediction markets might face tougher scrutiny in the next Congress as lawmakers in both parties express skepticism towards the Trump administration's favorable regulatory approach. Kalshi has not commented on the matter, but it is unclear whether Schultz will be working independently or for the company. The firm has been actively recruiting Democrats this year, adding notable names like Stephanie Cutter and John Bivona.
Other businesses in related industries are also stockpiling Democratic lobbyists ahead of the 2027 elections. Kalshi's legal team includes Neal Katyal, who successfully argued before the Supreme Court to overturn President Donald Trump's tariffs. The company's backed Coalition for Prediction Markets is represented by the Biden administration's solicitor general, Elizabeth Prelogar, and led by former House Democrat Rep. Sean Patrick Maloney of New York.
Kalshi's new hires may be called back into politics next year if Democrats decide to investigate the Trump administration's involvement with prediction markets.
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