Kalshi Probes Suspicious Trades Tied to Trump Press Secretary Pick

Prediction market Kalshi is investigating suspicious trades placed before the announcement of Katie Zacharia as President Donald Trump's new White House press secretary, according to a Wall Street Journal report on Friday. Kalshi declined to comment on the report. The Journal reported that at least three small wagers were placed before the news emerged, potentially netting traders thousands of dollars. A $19 bet placed late Thursday is set to pay $1,896, while wagers of about $74 and $80 placed Friday are expected to pay $3,689 and $4,023, respectively. Zacharia, a conservative commentator who briefly worked at the Department of Homeland Security, had been given about a 1% chance of securing the role on Kalshi before the announcement. Prediction markets, where users wager on outcomes from sports to world events, face growing scrutiny over the risk of traders profiting from inside information. In July, Trump's teleprompter operator came under investigation by the U.S. Commodity Futures Trading Commission over potential insider trading.