Bobby Allen
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Appearances Over Time
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Kelshi and Polymarket have spent nearly $2 million on lobbying in the first quarter, a sharp increase from last year.
The sites see billions of dollars in weekly bets on things like White House policy, the words of the president, military strikes, and war.
A growing chorus of lawmakers denounce the apps as a dangerous form of gambling, but Kalshi CEO Tarek Mansour tells NPR it's no different than the stock market.
is an advisor to both companies, and Trump's regulators have sued states to defend the company's right to exist.
A staff-wide email from the White House Management Office put Trump officials on notice over prediction market sites like Cauchy and Polymarket.
It said it's a criminal offense to use non-public information to make money on betting markets about federal policy, military strikes, and war.
It comes as a number of suspiciously well-timed bets have raised alarms, including six-figure polymarket bets on a ceasefire between the U.S.
and Iran hours before an announcement was made.
Regulators have cleared the lane for the prediction market industry to boom in Trump's second term.
But accusations that insiders could be profiting off of classified military intelligence have put the sights on the defensive.
A staff-wide email from the White House management office put Trump officials on notice over prediction market sites like Cauchy and Polymarket.
It said it's a criminal offense to use non-public information to make money on betting markets about federal policy, military strikes, and war.
It comes as a number of suspiciously well-timed bets have raised alarms, including six-figure Polymarket bets on a ceasefire between the U.S.
and Iran hours before an announcement was made.
Regulators have cleared the lane for the prediction market industry to boom in Trump's second term.
But accusations that insiders could be profiting off of classified military intelligence have put the sights on the defensive.