A tax economist bet his entire life savings against DOGE — and walked away with $128,000 in profit
A tax economist, Alan Cole, made a profit of over $128,000 by betting against the success of Elon Musk's Department of Government Efficiency in reducing US government spending. Cole's bet was based on his understanding of federal budget mechanics and was placed on a regulated prediction market platform called Kalshi.
Alan Cole, a tax economist, made a significant profit by betting against the success of Elon Musk's initiative to reduce US government spending. He placed his bet on Kalshi, a regulated prediction market platform. Cole's bet was based on his understanding of federal budget mechanics. He won over $128,000, a 37% increase from his original bet. Prediction markets allow users to bet on real-world outcomes, such as government spending levels or election results. Kalshi reported over $23 billion in trading volume in 2025. Cole's success was due to his understanding of federal budget mechanics, rather than insider information. However, not all prediction market bets are as clear-cut, and users should be cautious when placing bets.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.