Kalshi Onboards Ex-Democratic Strategist amid Legal Troubles
Cointelegraph
Prediction market Kalshi has hired former Obama staffer Stephanie Cutter as a policy adviser to strengthen its political influence amid ongoing legal challenges.Summary
Prediction market platform Kalshi has appointed Stephanie Cutter, a former Obama administration staffer and co-founder of Precision Strategies, as a policy adviser. CEO Tarek Mansour stated the move is intended to help the company deepen its relationships in Washington D.C. and across the U.S. This hiring comes as Kalshi faces significant legal pressure, including lawsuits from state-level authorities alleging that its event contracts constitute illegal sports betting. Additionally, the platform is navigating federal scrutiny from the CFTC and potential legislative efforts in Congress to restrict prediction markets, following concerns from lawmakers regarding suspicious trading activity.
(Source：Cointelegraph)