Kalshi, a prediction market platform, is investigating a series of bets that accurately predicted Katie Zacharia's appointment as the new White House press secretary. The probe comes hours after Zacharia, a conservative commentator, was named to the high-profile role.
According to a report by The Wall Street Journal, at least three bets were placed on Kalshi shortly before news outlets reported Zacharia's selection. These wagers, though small, yielded the bettors several thousand dollars.
Publicly available Kalshi data reportedly shows a $19 bet placed around 10:43 p.m. Thursday, which stood to net the bettor $1,896. Two additional bets were made around 1:41 p.m. Friday: one for $74 and another for $80, collectively poised to bring in $7,712.
A Kalshi spokeswoman declined to comment on the specific bets, stating, "We can’t comment on ongoing investigations."
This situation follows a pattern of unusual trades on prediction markets like Kalshi and its rival Polymarket. In the spring, a U.S. special forces soldier was charged for allegedly using classified information to win over $400,000 on Polymarket concerning the capture of Venezuelan President Nicolas Maduro.
More recently, the Commodity Futures Trading Commission reportedly launched an investigation into Kalshi over unusual trading activity involving billions of dollars in near-identical crypto trades, which raised concerns about potential wash trading. The White House has not yet commented on the matter.