Kalshi Investigates Trades Before White House Press Secretary Appointment

Kalshi is investigating potentially informed trading linked to the appointment of Katie Zacharia as the White House press secretary, after several bets anticipated a result that had been priced as highly unlikely.

President Donald Trump confirmed Zacharia’s appointment Oct. 9. Before the announcement, her selection carried an estimated 1% probability on Kalshi, making her an unexpected outcome in the contract.

At least three bets placed before the announcement matched the result. The wagers were $19, about $74 and $80, with projected payouts of $1,896, $3,689 and $4,023, respectively. Together, the bets totaled $173 and carried potential returns of $9,608.

Kalshi has confirmed that it is examining the trades but has not disclosed additional details. The investigation puts the focus on whether participants used information unavailable to the broader market before the appointment became public, a question that could affect confidence in prediction-market integrity.