Kalshi Is Cozy With Trump — But It’s Ramping Up Dem Hires and Campaign Spending
A new report highlights Kalshi and Polymarket’s Democratic hires and spending just as Congress is expected to launch probes into betting markets. The post Kalshi Is Cozy With Trump — But It’s Ramping Up Dem Hires and Campaign Spending appeared first on The Intercept .
Prediction betting site Kalshi has hired former officials from Joe Biden's White House, including a policy adviser and a top lobbyist, according to a new report. The company's co-founders have also contributed over $1 million to federal candidates, with more than a third going to Democrats. This shift in Kalshi's hiring and spending patterns highlights the industry's growing influence in Washington as regulators develop rules for the sector.
While Kalshi's close ties to the Trump administration drew attention, the report from progressive group Demand Progress reveals that the prediction market industry's influence operation spans across party lines. Both parties are being courted by the betting market sites as Democrats prepare to take control of both chambers of Congress.
Kalshi has spent $1.8 million on lobbying this year, nearly tripling their spending from the previous year.
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