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Eliezer Mishory, Kalshi’s chief regulatory officer at the derivatives exchange, is now reportedly heading up Elon Musk’s Department of Government Efficiency (DOGE) team at the US Securities and Exchange Commission (SEC).
According to sources cited by Reuters, Mishory, who used to work at the Commodity Futures Trading Commission (CFTC), received access to the SEC’s D.C. headquarters on Friday (Mar. 28).
SEC staff were then told that DOGE would be embedding people like Mishory into the agency and giving them system access, though with some conditions.
🚨SCOOP: Eliezer Mishory, Chief Regulatory Officer and General Counsel at prediction markets firm @Kalshi, is departing the company to join Elon Musk at @DOGE, according to sources familiar with the transition.
Mishory joined Kalshi in 2021 after serving for five years in the…
— Eleanor Terrett (@EleanorTerrett) April 2, 2025
Bloomberg reports Mishory stepped down from his role at Kalshi last week, right as the company’s been getting hit with a wave of cease-and-desist letters from several states over its sports betting-style futures offering.
When ReadWrite reached out to the SEC, a spokesperson declined to comment.
Last week, New Jersey’s Division of Gaming Enforcement hit Kalshi with a cease-and-desist over its sports contracts. Kalshi fired back with lawsuits against both New Jersey and Nevada. Other states like Connecticut, Illinois, and Ohio are also pushing the company to stop offering sports derivatives in their regions. And there’s even some chatter that Washington State, where mobile sports betting isn’t allowed, might jump on the bandwagon too.
Kalshi has pushed the envelope by allowing sports wagers, a move that would’ve been unthinkable to the CFTC not too long ago.
US government relations with prediction markets like Kalshi
In February, President Trump nominated Brian Quintenz, a former CFTC commissioner and a former Kalshi board member, to head up the swaps and futures regulator. Mishory previously worked under Quintenz at the CFTC. That move came just after Kalshi made headlines in January for bringing on Donald Trump Jr. as an adviser to the New York-based prediction market.
Prediction markets like Kalshi took off in popularity after they correctly projected the outcome of the US election, especially since a lot of the traditional pollsters missed the mark.
The company’s still locked in a legal battle with the agency over whether letting people trade on political events crosses a legal line.
ReadWrite has reached out to Mishory and Kalshi for comment.
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