Kalshi, a prediction markets platform, has announced the appointment of Stephanie Cutter as a policy adviser. Cutter joins from Precision Strategies, a communications firm she co-founded in 2013. The company stated the hire is part of a broader effort to deepen its relationships in Washington and across the country.
Kalshi co-founder and CEO Tarek Mansour highlighted Cutter’s background in government and politics as central to her value for the company. He noted that her experience would help the company get its message to the right people. Cutter previously served as a staffer under US President Barack Obama.
The appointment adds to a roster of politically connected advisers at Kalshi. In January 2025, the week before his father took office, the company named Donald Trump Jr. as a strategic adviser. The company appears to be cultivating ties across the political spectrum as it navigates an increasingly complex regulatory environment.
Over the past year, Kalshi has faced legal challenges from multiple US state-level authorities. These regulators have filed lawsuits against Kalshi and other companies offering event contracts on prediction markets for sports, alleging that such contracts constitute illegal bets. The disputes have drawn attention to the broader question of who holds authority over these markets.
The US Commodity Futures Trading Commission (CFTC), under Trump nominee Michael Selig, has asserted that it holds exclusive jurisdiction over prediction markets. The agency has gone so far as to file lawsuits against state gaming regulators in support of that position. The jurisdictional conflict remains unresolved, leaving the legal landscape uncertain for companies operating in the space.
Scrutiny has also come from within US Congress, where many Democratic lawmakers have called for closer examination of prediction markets. Their concerns center on what they described as suspicious trades connected to the country’s invasion of Iran. In response, some legislators introduced bills that could prohibit politicians from placing bets on prediction markets.
Both Kalshi and rival platform Polymarket announced plans in March to introduce safeguards aimed at preventing accounts from trading on insider information. As of Friday, none of the congressional bills had been signed into law, and the outcomes of many state-level lawsuits remained unclear. The regulatory and legislative picture for prediction markets continues to evolve.
Originally reported by CoinTelegraph.
