Later today, Kalshi, the Public Housing Community Fund and Rep. Ritchie Torres will announce a four-year, $1 million donation to launch the Kalshi Public Housing Health Fund, supporting public health initiatives and career opportunities for NYCHA residents.

I truly love Kalshi's idea that news organizations are too slow because they 'call races' early Yeah dipshits we don't call races based on limited information so we can be absolutely sure what to tell the public

Last night, the power to decide what America sees changed hands. I have spent a ton of time in DC over the last few months. The elites were certain the markets were off. I heard many variants of “no chance markets are right about X” and “I’ve been in politics for a decade. ‘These people’ don’t really know much.” Last night, ‘these people’ beat the elites. Prediction market favorites won 479 of the first 487 races. That’s 98%. The elites live in a bubble. They theorize, write, ideate, and mistake credentials for an understanding of lives they’ve never lived. They don’t see and feel what the everyday man, on the ground, sees and feels. Knowledge is not exclusive to the elites but scattered across millions of people. Someone knows their hometown better than any national pundit. Someone has followed a local race passionately for months. Someone has followed a local race dispassionately for months. Someone notices a shift in their community before it makes the headlines. Someone is shaped by an incident at work. Someone is shaped by what’s getting harder or easier for their families. Each holds a piece of the picture that no expert can see in full. And for the longest time, that knowledge had no way to reach the rest of the world. For generations, election night meant turning on the TV and waiting for a handful of people to tell you what happened. Prediction markets change that. You don't need a title, a large following, or an editor to publish you. All you need is a perspective and the conviction to back it. That changes who holds power over information. Anyone can see the market. Anyone can contribute to it. Anyone can question it. No title gives you the final word. No gatekeepers can filter your view. Sometimes the signal can be wrong. But anyone can challenge the consensus and improve it. And when people consolidate their knowledge together, something remarkable happens: millions of individual perspectives become a signal that we all can learn from. Over the last few months, the people showed up on Kalshi to tell the world what they were going to do. Last night, the megaphone was passed to them.

One of the things the data analysts on our side obsessed over was "composition"—whether the electorate looked close enough to 2024 for Republicans to win. And despite polls that showed a Democrat blowout, the data kept on telling us the same story: in some states turnout was merely OK, in other states it was downright amazing, and in no state was it catastrophic. There was a genuine sense of optimism on our team: our people were showing up. So, I asked the smartest data guy I know, does that mean we're going to shock the world? "No," he told me. "We might do better than the polls suggest. But the data is telling us that a lot of Trump/Vance 2024 voters are pissed and planning to vote for the other guys. Our voters are turning out, but they may not vote for us." Well, that looks prophetic now. Our voters did show up. In Florida, for example, the electorate was 9 points more Republican than Democrat, just a couple points worse than 2024. Undoubtedly there were places we could have done better on turnout. But the main problem is not turnout. The main problem is that many people who voted for Trump/Vance in 2024 voted for Democrats in 2026. There will be a lot of infighting and arguing over what happened and why that is. One of the pollsters I really respect told me that our economic messaging wasn’t sharp enough down the stretch. I’m sure that’s true. But the real reason we lost is obvious to almost everyone. Another pollster—one of the smartest people I know in politics, told me yesterday we’d lose the generic ballot by 13 points. I felt negative going into Tuesday, but even I was shocked by this. In his polling, he saw that a lot of Trump 2024 voters were angry and planning to vote for Democrats. He asked those voters who had abandoned us what would cause them to come back on our team. The top four answers, accounting for nearly all of the responses were: 1) End the war 2) Focus on cost of living/inflation 3) Put America First 4) Change our relationship to Israel Our voters showed up. And the above four reasons are why many of them voted for Democrats. This is according to a pollster who nailed the results. While many spent Monday attacking Rachel Campos Duffy for calling for a diplomatic resolution to the conflict, it turns out her political advice was sound. (She’s also a great person.) In the next few months, there's going to be a lot of gaslighting. Expect to hear any number of establishment politicians say the solution to our woes is amnesty. I'm open to the idea that we should change enforcement—by focusing more on businesses that hire illegal labor, for instance. But anyone pushing amnesty is lying to you. The reason we lost is the war. The president himself said so last night. If you'd like to argue it was worth it, that losing the Senate for the next 6 years was worth it, then do so. Argue it was a worthwhile cost to pay. Agree or disagree, that's at least honest. But everyone knows why we lost. And any honest conversation about where we go from here must start there. I remain hopeful about our country. To the people who are pissed off and want to say, “I told you so”: you’re right, you did tell us so. Take that energy into electing Republicans who share your worldview. To the people who are just pissed at the results, you should be. Let’s take that anger and get back to the work of saving our country.

Hearing lots of anger from inside Trump’s orbit about how GOP is getting killed over the Iran war, including this from one source close to White House: “If any good comes out of tonight for the Republican Party, it’s that no Republican president will ever listen to imbeciles like Mark Levin and Marc Thiessen again”