The prediction market platform Kalshi is looking into suspicious trading activity connected to President Donald Trump’s naming of Katie Zacharia as White House press secretary. The inquiry comes in the wake of a series of wagers made just prior to the October 9 announcement.
Before the news broke, Kalshi gave Zacharia just a 1% probability of landing the job. Nevertheless, three separate bets accurately forecasted her pick, prompting concerns regarding whether the individuals involved possessed inside information.
Kalshi Investigates Three Bets Worth Thousands of Dollars
As reported by The Wall Street Journal, Kalshi is examining at least three transactions executed ahead of Zacharia’s public appointment. A representative for the company verified the probe while withholding additional information concerning the traders or their actions.
Data shows that a single trader wagered $19 around 10:43 p.m. ET on Thursday, October 8, with an anticipated return of $1,896 once the market resolved. Two other bets emerged shortly before media outlets broke the story of Trump’s choice.
Executed near 1:41 p.m. ET on Friday, those two bets totaled roughly $74 and $80, carrying projected payouts of $3,689 and $4,023 respectively. In total, the three stakes risked about $173 to secure prospective payouts of $9,608.
Kalshi has yet to publicly name the participants or determine if the wagers relied on illicitly obtained details. While the timing of the positions has attracted attention, the ongoing review does not imply any confirmed misconduct.
Trump Confirms Katie Zacharia as New White House Press Secretary
Trump used Truth Social on Friday to make Zacharia’s selection public. She succeeds Karoline Leavitt, who departed the role on August 27 after serving since January 2025 to dedicate more time to her children.
Prior to this role, Zacharia served as a senior communications adviser for the Trump Media & Technology Group—the parent company of Truth Social—and briefly held a Department of Homeland Security spokesperson position earlier in 2026. She has also worked as a conservative commentator for Fox News and Newsmax.
In his announcement, Trump labeled Zacharia “a loyal and brilliant supporter, right from the beginning.” Responding via social media, Zacharia expressed gratitude to the president and termed the position the “honor of a lifetime.” Neither official statement mentioned the Kalshi review.
Previous Insider Trading Case Brings More Scrutiny to Kalshi
This inquiry follows a distinct incident involving former White House teleprompter operator Gabriel Perez. Federal authorities launched a probe in July regarding Perez’s Kalshi wagers on specific terminology anticipated in presidential addresses. After spotting the unusual trading activity, Kalshi turned the case over to the Commodity Futures Trading Commission.
Investigators ultimately determined that Perez generated $107,500 by leveraging nonpublic access to upcoming speeches. Pursuant to an August agreement, Perez relinquished his gains, incurred a $65,000 fine, and accepted a three-year ban from trading.
While prediction markets enable participants to speculate on political nominations, economic milestones, and other occurrences, trading on confidential data can breach federal regulations.
Regarding Zacharia’s appointment, Kalshi has kept private whether any fund withdrawals have been frozen or if the transactions have been escalated to oversight bodies. Furthermore, the firm has not specified a timeline for concluding its inquiry.
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