Kalshi, a federally regulated exchange that allows users to trade on the outcome of future events, is expanding its political presence with a new office in Washington, D.C. and the hiring of John Bivona as its Head of Federal Government Relations. This move signals a strategic effort to strengthen its policy efforts and deepen ties with policymakers as prediction markets face increasing regulatory scrutiny.
The New York-based company's D.C. expansion includes plans to recruit talent from both sides of the aisle. Kalshi has also hired Blake Bee, formerly of Amazon, to lead its state policy efforts. Bee's experience includes serving as a Senior Manager of State and Local Public Policy at Amazon, and prior to that, working for seven years at the National Association of Attorneys General.
John Bivona brings nearly two decades of experience as a political strategist and advisor, having worked extensively within political campaigns and the federal government. He served in the Biden Administration as the first White House Liaison at the Department of Homeland Security and was the first Chief of Staff for then-Congressman Antonio Delgado (D-NY). Bivona also held a senior role at the Democratic Congressional Campaign Committee during the 2018 election cycle. More recently, he launched Intersection Government Relations and Intersection Advocacy. His resume is focused on government operations and campaigns.
Kalshi is the first CFTC-regulated exchange dedicated to trading on the outcome of future events. The platform allows people to trade on a broad range of topics, spanning from news and politics to entertainment and sports. It has become a source for staying informed about the future, and is used by reporters, politicians, and those in finance.
The company currently handles $100 billion in annualized trading volume, with millions of traders using its platform daily. Founded in 2018, Kalshi is considered the world's largest prediction market. Kalshi's expansion into Washington D.C. reflects a proactive approach to engaging with federal policymakers and solidifying its regulatory footprint. The company aims to promote responsible innovation in financial markets.
The hiring of Bivona, a veteran Democratic strategist, could stir speculation in some circles. However, Kalshi isn't overtly political. The company plans to add more staff in Washington and wants to recruit talent from both parties. Kalshi's law firm directed a large percentage of its political donations to Democrats in the 2024 cycle. The Coalition for Prediction Markets (CPM), of which Kalshi is a founding member, has also hired former Democrat and Republican congressmen to leadership roles.
Kalshi's strategic hires are part of a broader effort to shape the regulatory environment for prediction markets. The platform's legal victory in October 2024, which affirmed the CFTC’s authority to regulate election-related contracts, marked a turning point.
