An accountant won a huge jackpot on Kalshi by betting against DOGE

When Alan Cole saw Elon Musk’s fans eager to make a deal in the market predicting Kalshi that the Department of Government Employment (DOGE) could reduce government spending in one year, he knew he had to bet, according to an article about Cole’s success in. The Wall Street Journal.

If Cole, an international tax accountant, knows anything in life it’s this: federal funds can’t be destroyed quickly, he told the WSJ. Even if the DOGE freezes some government contracts and lays off workers (which it did), many remaining positions and a growing federal debt remain.

So, he bet his entire life savings – more than $342,000 – to take a bet that the US federal budget would not be reduced. He gradually acquired 3% of Kalshi’s predicted market capitalization which grew to $12 million (making a few bets along the way), he told the WSJ.

When the government released 2025 year-end financial report on February 20, showing an increase compared to 2024, Cole left with $ 470,300 and a handsome profit of $ 128,000.