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Kalshi Investigates Early Bets on White House Press Secretary Appointment

According to The Block citing The Wall Street Journal, prediction market platform Kalshi is investigating several trades that correctly bet on Trump appointing Katie Zacharia as White House Press Secretary before the announcement. Trump confirmed the appointment in a post on Truth Social on Friday afternoon, with Zacharia replacing Karoline Leavitt. At least three bets totaling approximately $173 were placed before the media reported on the selection, with the market expected to pay out about $9,600 after settlement. One bet of about $19 was placed around 10:42 PM ET on Thursday, with an expected payout of $1,896; two other bets of approximately $74 and $80 were placed around 1:41 PM on Friday, with expected payouts of $3,689 and $4,023 respectively. Reports indicate that days before the news broke, Kalshi traders assigned a probability of about 1% to Zacharia. This investigation follows a settlement reached by the Commodity Futures Trading Commission in August with a former White House teleprompter operator who had traded on markets related to Trump's speeches on Kalshi.

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