Although progressive candidates have recently performed well in primaries, Wisconsin Democratic gubernatorial candidate Francesca Hong saw her market price decline.
The Wisconsin Democratic governor nominee market shows Hong's price dropped from a high of nearly 96% to 85% before regaining some ground. She is now priced at 91%, followed by David Crowley at 8%, and Kelda Roys at 0%.
Hong’s “Thanksgiving” post
The sudden drop in price may be attributed to a CNN interview and a series of social media posts from 2020.
The Milwaukee Journal Sentinel’s Molly Beck reported that a series of social media posts Hong made “called to end Thanksgiving, criticized Valentine’s Day and described an experience at a Culver’s that made her uncomfortable because of ‘many old white people who didn’t think we spoke english.”
Hong told the newspaper that the posts were only meant to be a series of "jokes." Then another clip surfaced from a CNN interview in which she was asked about the controversial social media posts.
Hong was asked if she believed that the Thanksgiving holiday should be canceled, and responded, "I'm a chef and one of the first meals that I made was for the community when I was 16 was a Thanksgiving meal. But Thanksgiving is also a time that's incredibly painful for many people in our communities." Hong said that her views have evolved since those posts and that she still believes she's the best candidate for the job based on her background.
“I wanted to make sure that people understood that there are multiple views, but views can evolve,” Hong said. “And the position that I’m running for right now, and I think my background as a chef will actually help me become a better governor that’s able to bring more people to the table.”
The latest polling
The Hill’s Caroline Vakil reported that a recent Marquette University Law School poll put Hong in first place in the Democratic primary for Wisconsin’s governor at 38 percent, followed by former Lt. Gov. Mandela Barnes in second at 16 percent and Milwaukee County Executive David Crowley at 7 percent. The remaining candidates in the crowded primary received less than 5 percent, and 34 percent said they were undecided.
Socialist candidates have been leading in several key races across the nation. Michigan Senate Democratic primary candidate Abdul El-Sayed won his primary race on Tuesday, but by a much narrower margin than expected, which may have also played a role in Hong’s price fluctuation.
The takeaway:
Kalshi markets now predict
Francesca Hong winning the nomination: 91%
David Crowley winning the nomination: 8%
Follow Danny Gallagher on Instagram: @writerdannygallagher
Follow Kalshi on X: @Kalshi | Image Source: LaShawnda Jones
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.
