Alan Cole, a senior economist at the Tax Foundation and self-described “tax nerd,” has walked away with a $128,000 profit after betting his entire life savings that Elon Musk‘s Department of Government Efficiency, or DOGE, would fail to cut federal spending.
According to The Wall Street Journal, Cole placed a wager of $342,195.63 on the prediction platform Kalshi, which the Wall Street Journal described as “effectively everything outside of his retirement accounts and home equity.” His bet was straightforward: federal spending would continue its long-standing trend of going up, regardless of Musk’s efforts.
