Kalshi Taps Former Biden Administration Insider to Lead in DC

Kalshi has recently had a close brush in the United States, where the company narrowly avoided having its sports event contracts shut down last Friday, when a judge who previously agreed that the platform’s products are not just financial tools said he would need more time to deliberate and arrive at a decision.

Kalshi Brings Well-Connected Hire amid Growth, Regulatory Push

However, the judge’s interpretation has emboldened other states, which are similarly leading a charge against Kalshi, among which are Nevada and Ohio. 

Despite all of this, Kalsh is responding by continuing with its hiring drive and tapping former Biden-era staffer John Bivona, a Democrat advisor and strategist, who is now joining the company and has Donald J. Trump sitting in an advisory role. 

Bivona is a well-connected political strategist who has spent two decades in democratic circles and will now be appointed as the company’s head of federal government relations, a newly-created role seeking to help communicate the company’s stance on various issues. 

The new hire has been praised by Kalshi for his role in electoral cycles and track record in delivering results. In a statement, the company said:

“Bivona has helped elect Democrats at the Presidential, Senate, and House levels. In 2018, he served as the Democratic Congressional Campaign Committee (DCCC) Deputy National Political Director, where he advised and recruited candidates during the pivotal 2018 election that remade the House of Representatives.” 

Bivona has also held various private-sector roles, including his own advisory and lobbying firm. 

While Kalshi has revealed no political colors, despite a slightly blue tinge, the current administration has expedited changes that have made it easier for prediction markets to operate.

Mending Fences with AGs and Regulators in the US

If anything, the President of the United States, Donald Trump, is in the process of launching Truth Predict, a dedicated prediction market platform, signaling the administration’s overt interest in the vertical. 

That Kalshi has hired a well-connected lobbyist should not surprise anyone, as the company is openly advocating its position, i.e., that event contracts are not gambling. Recently, Kalshi founded – along with others – the Coalition for Prediction Markets, a trade group meant to advocate for the sector against legal and regulatory pushback. 

In the same stride, Kalshi has confirmed that it has hired Blake Bee, a former Amazon executive who will help the company engage with attorneys general who have been pushing back against the business.