Katie Zacharia is reportedly leaving her role as White House press secretary after just seven days on the job, Fox News confirmed Friday, an outcome Kalshi traders had already priced at 86% by November.
Kalshi's market now shows a 99% implied probability that Zacharia will leave her position by November.
For informational purposes only. Not trading advice. See full disclaimer below.
Who will replace her: Kalshi’s next press secretary market
Kalshi has also opened a market on who will become the next permanent White House press secretary.
The market currently shows Anna Kelly, a conservative commentator and media personality, as the leading candidate, followed by Fox News contributor Scott Jennings and former press secretary Karoline Leavitt.
Zacharia “transitioning out” of her job
The prices on Zacharia's ouster market started to spike after comments made by President Trump. CNBC reported that Trump "opened the door" for Zacharia to step down from the job after her rocky start with her first press conference before the White House press corps.
The Guardian reported that Trump also questioned whether the position was right for Zacharia, telling reporters that he had encouraged her to reconsider the job.
“I said, ‘Is this for you, Katie? Because honestly, you don’t need it,’” Trump told reporters. “I said to her, ‘Honestly, if I were you, I’d reconsider. You think about it, but I would reconsider.’”
Things got off to a less than stellar start on Tuesday, Oct. 13, when Zacharia held her first press conference in the White House press briefing room. The New York Times' Shawn McCreesh reported that she spent "eight minutes reading nervously from a script."
Then she only took questions from three reporters before dropping news about Kimberly Guilfoyle’s resignation, accidentally mixed up her husband and the president, “then darted out of there after just five and a half minutes, leaving the White House press corps to scratch its collective head.”
Scrutiny about Zacharia’s law experience
The scrutiny over Zacharia’s appointment didn’t stop with her first performance as White House press secretary. Questions also emerged about Zacharia's legal credentials after reports that she had never passed a U.S. bar exam.
The Wall Street Journal discovered that Zacharia has not passed a bar exam in the U.S. She sat for the California bar exam after completing her law school degree from Pepperdine University in 2011, “according to a person with direct knowledge of the matter, but she didn’t pass.”
Later, she moved to Beijing to work for a law firm, but she still has not taken the bar exam in any U.S. state.
Zacharia addressed the bar exam directly during an appearance on 'Hannity' on Thursday night, saying she had pre-registered for the California bar but knew she would be living in China when results came out. She sat for the exam to avoid a 'withdraw status,' she said, but did not pass.
The takeaway:
Kalshi markets now predict
Follow Danny Gallagher on Instagram: @writerdannygallagher
Follow Kalshi on X: @Kalshi | Image Source: The White House
The opinions and perspectives presented in this article belong solely to the author. This is not financial advice and does not constitute an offer, solicitation, or recommendation to trade any specific product. Information is provided for convenience only on an "AS IS" basis. Past performance is not necessarily indicative of future results. 18+ only. Restrictions and eligibility requirements apply. Trading event contracts and trading leveraged products, including perpetual futures, involves significant risk and is not appropriate for everyone. Please carefully consider if it is appropriate for you in light of your personal financial circumstances. Kalshi products are not available in all jurisdictions. See kalshi.com/regulatory for more information. Kalshi is subject to U.S. regulatory oversight by the CFTC.
