A 37-year-old economist who says he bet more than $300k against DOGE on Kalshi explains himself [Business Insider]
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This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in Alan Cole, a 37-year-old economist in DC, said he bet his life savings against DOGE. He said he wagered roughly $342,200 and won $470,300 — a roughly 37% return. He explained his rationale in a post on X on Thursday. He said he bet his life savings on Elon Musk's Department of Government Efficiency failing to shrink federal spending — and won. Now, he's answering some questions. Alan Cole, a 37-year-old senior economist at the conservative-leaning Tax Foundation in Washington, DC, said in a Wall Street Journal profile that he made a $342,195.63 bet on the prediction market Kalshi on whether federal spending in each quarter of 2025 would be higher than it was in the fourth quarter of 2024. Ultimately, it was, and Cole says he ended up winning $470,300. That's a return of more than $128,000, or about 37%. He told the Journal that he mad
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