No proof anyone traded on inside knowledge, but small bets on the rank outsider reportedly netted thousands.
The hit
Kalshi is reportedly investigating unusual winning trades on who would become Donald Trump’s next press secretary, with the probe first reported by the Wall Street Journal. Katie Zacharia, a rank outsider trading at $0.01 for most of the market’s life, was named to the role on Friday. Several small ‘Yes’ bets on her, all allegedly under $100, carried potential profits running into the thousands.
Why it matters
Nothing proves anyone inside the White House traded with foresight, but the episode revives Kalshi’s fight with so-called knowable markets, where an outcome can be known before it is public. That scope for alleged insider trading now sits alongside a live congressional probe into exchange safeguards.
The record
| Zacharia ‘Yes’ contracts | Traded near $0.01 for most of the market’s life |
|---|---|
| Single trade profit | A $19 stake reportedly netted the anonymous trader thousands of dollars |
| George Santos ban | Life ban from Kalshi after winning almost $18,000 on his own State of the Union attendance |
| Ex-White House teleprompter operator penalty | Ordered to pay over $172,000 for betting on a Trump ‘mention market’ |
| US soldier charged over Maduro intelligence | Charged with using classified information after allegedly making over $400,000 trading on Kalshi |
What happens next
Watch for Kalshi’s formal findings on the Zacharia trades & the House Oversight Committee’s wider probe, led by chair James Comer, into insider trading safeguards on exchanges.
Sources: Trump Press Secretary Prediction Market Under Investigation After Zacharia Appointed
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