Jacki McGavick

Comms @Kalshi | Former Special Assistant to @POTUS & @WhiteHouse Policy Communications Director 🇺🇸

[Jacki McGavick @jackikotkiewicz]

NEWS: Thrilled to announce I’ve joined @Kalshi.

After serving @POTUS in the @WhiteHouse, I’m proud to be joining a company building something uniquely American: a federally regulated prediction market that is innovating right here in the United States.

Kalshi gives ordinary people a way to cut through the noise and fake news — and get rewarded for being right.

Excited to help tell that story 🚀

[robertjdenault @robertjdenault]

Good policy and legal debates turn on facts, not fiction. But Governor Christie's claims aren't based on facts.

He says the CFTC has no investigators.
Fact: The CFTC and the exchanges it regulates have entire teams of investigators — we talk all the time.

He says prediction markets have lost “85%” of cases.
Fact: The legal split is much closer to 50-50. The Third Circuit Court of Appeals (NJ, PA, DE) and courts in NJ, MN, TN, and AZ on one side; courts in NY, MA, NV, WI, UT, MI and CT on the other.

[Jovy Dedaj @JovyDedaj]

@Kalshi filed this motion in Washington state court asking for the same treatment the Washington AG is giving other prediction markets who are free to operate while the litigation plays out. This kind of arbitrary enforcement is exactly why prediction markets are regulated at the federal level in the first place.

[Nicole Kagan @nkagan_official]

This was a really fun one to work on. Here we conducted a granular analysis of calibration across the history of our Exchange. Unsurprisingly, markets become better-calibrated closer to resolution, but they don't require institutional volumes to be useful, months out.

[Tarek Mansour @mansourtarek_]

We ran a study on over 2 million markets to evaluate their calibration. To our knowledge, this is the largest replicable study on this topic.

Here are the results: 🧵

[Jacki McGavick @jackikotkiewicz]

The market on Kalshi didn't move upon the release of this fabricated poll. Traders have real money on the line, so they have every incentive to scrutinize information and sniff out fake news, like this.

[Bloomberg @business]

Now voters have to worry about fake election polls being used to sway public opinion so that bad actors might profit in the prediction markets? @Erika_D_Smith has concerns (via @opinion) https://t.co/QkOTnvB7hw

[robertjdenault @robertjdenault]

New piece by @ProfAnalytics and myself, published today by @HarvardCorpGov, about the ways insider trading surveillance in prediction markets differs from traditional securities markets.

Give it a read if you're interested in the PM surveillance space - link below.

[Jacki McGavick @jackikotkiewicz]

.@BrianQuintenz: "No other market does as much as Kalshi does in terms of trying to prevent [insider trading] from occurring in the first place. But that doesn't mean that they can't occur. The important part is if they do occur, in the rare instances, they're prosecuted."

[Rick Heaslip @RickHeaslip]

Kalshi went above and beyond to geofence Nevada as requested. We hired a state-approved vendor and updated Nevada every step of the way, with no response. Instead of engaging, they falsified information (breaking federal law) to hunt for a loophole and manufacture another legal grievance. We addressed it within hours, but they ran to court anyway.

This is not the behavior of a regulator trying to protect consumers - it is a vindictive waste of taxpayer dollars at the bidding of casinos.

[Jacki McGavick @jackikotkiewicz]

Kalshi Head of Enforcement @robertjdenault on the hesitancy he's seeing toward prediction markets: "I think people are scared of competition."

[Jacki McGavick @jackikotkiewicz]

Kalshi's @robertjdenault on why comparing a prediction market to a sportsbook doesn't hold up:

State piecemeal regulations are designed to regulate a casino that chases customer losses.

An exchange is the opposite: users set the price with each other in an open, impartial order book under federal regulation, the same model as Nasdaq, NYSE, and CME.

[CNBC @CNBC]

Goat herding hedge: How Susquehanna and Kalshi are helping this company offset a change in California law https://t.co/4nJeNSvETH

[Susie Wiles @SusieWiles47]

Karoline, you have been nothing short of extraordinary. You have taken on one of the toughest jobs in Washington with confidence, discipline, grace and an unmatched ability to deliver the President’s message. Simply put, you are the greatest @PressSec .

But what has been equally special is that you’ve let us see the woman behind the podium. It has been a privilege to watch you excel as a professional while also being an incredible wife and devoted mom.

You’ve made all of us, who have had the privilege of working alongside you, so proud. I am blessed to call you dear friend and I’m excited to see what your next chapter looks like.

Congratulations, @karolineleavitt !

[Lauris @lzminsky]

Introducing Blanket!

Blanket helps small businesses find relevant @Kalshi markets for hedging risk and running promotions.

Describe your business risks and it will help identify the Kalshi markets that fit.

Blanket is a research product and will be open sourced after testing.

[The Digital Chamber @DigitalChamber]

1/ We are thrilled to welcome @Kalshi as a new member.

Founded in 2018, Kalshi is the world’s next-generation financial exchange. Together we’ll engage policymakers, regulators, and industry stakeholders to advance a consistent federal framework for prediction markets and educate decision-makers on how federally regulated event contracts differ from gaming products.

[Shira ❤️ @Shira_LES]

Sunday NYT w/ @mansourtarek_

[Jacki McGavick @jackikotkiewicz]

Kalshi Head of Enforcement Robert DeNault calls the guidance from Wisconsin’s Elections Commission “unprecedented, dangerous, and unlawful.”

[Jacki McGavick @jackikotkiewicz]

Wisconsin Elections Commissioner Ann Jacobs mocks voters for being upset after she told them they can’t vote if they placed a trade on an election.

“People have really big feelings about this.”

[Ryan Connor | RockawayX 🇺🇸 @ryanconnor]

“For CNN: I’m interested in quotes that align with my preconceived bias regardless of the facts on the ground”

Trad media is a propaganda machine, they don’t even try to hide it anymore

[Keaton @KeatonInglis]

@NYGovPress You wrote two fake tweets politicizing cancer to score points.

Read that again.

[Luana Lopes Lara @luanalopeslara]

This is flat out a lie.

The markets are on FDA approvals, which help researchers and investors develop life-saving drugs more effectively and faster.

I'm here if you want to learn more about these markets and how they can bring more transparency and efficiency to a complex industry.