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@sludge.bsky.social@sludge.bsky.socialAlan Armstrong left pipeline giant Williams Co. for the Senate in March. Williams’ board counted him as employed through July, preserving $2.8M in stock awards. In June, still an employee for award purposes, he introduced a bill limiting states’ power to block pipelines. Williams backed it.
@sludge.bsky.socialPipeline CEO Turned Senator Wants to Limit States’ Power to Block Pipelines readsludge.com/2026/10/09/p...
@sludge.bsky.socialNEW: Former Williams CEO-turned-senator Alan Armstrong is advancing legislation to limit states’ power to block pipelines. He holds tens of millions in Williams stock, including performance-based awards that pay out after he leaves office. readsludge.com/2026/10/09/p...
@davidrussellmoore.bsky.socialReposted by @sludge.bsky.socialCorporate powerhouses and billionaires are flooding politics with money to shape policy—and to pick their favorite next legislators. Sludge and The Lever are uncovering how this influence works—now you can get full access to our scoops, two for the price of one. 🤯
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@zacheverson.comReposted by @sludge.bsky.social"Rep. McCaul's Wife Trades Stock in a Counter-Drone Contractor Profiting From His Laws"
Peter Castagno for @sludge.bsky.social
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@sludge.bsky.socialNEW: Rep. Michael McCaul has repeatedly worked to expand the government's counter-drone programs while his spouse trade stock in CACI International, a leading counter-drone contractor. readsludge.com/2026/10/06/r...
@davidrussellmoore.bsky.socialReposted by @sludge.bsky.socialData center interests are throwing events for the Congressional Black Caucus—and donating to their groups—ahead of potential legislation in the next Congress.
Here's how Big Tech woos lawmakers, even as local opposition to pollution (think Memphis and xAI) builds. New @sludge.bsky.social:
@sludge.bsky.socialNEW: The Congressional Black Caucus is working toward a consensus on data centers. Its nonprofits have taken $1.6 million from Big Tech and hosted execs from Meta, Microsoft, and Entergy. Aides recently toured a data center with a tech-funded think tank. readsludge.com/2026/10/02/b...
@sludge.bsky.socialA whopping 89% of Kalshi's fee revenue is from sports-related contracts, per InGame.
“The argument that this is not sports betting is really thin, yet the CFTC is validating it because it's the industry's wish list,” said Ella Fanger of @demandprogress.bsky.social, part of a coalition of watchdogs.
@sludge.bsky.socialKalshi outspent its entire 2025 lobbying sum in the first half of 2026, bringing it to over two dozen federal lobbyists, and launched a D.C. ad campaign touting its regulation. CFTC chair Michael Selig formerly worked as counsel at VC firm Paradigm and championed the industry vs. the Biden admin.
@sludge.bsky.socialKalshi brought on Donald Trump Jr. as a strategic adviser in January 2025. He received an equity stake when the company was worth ~$2B. Months later, it raised at a valuation of $22B; its current valuation could be $42B. Kalshi is now asking the CFTC to allow "margin trading" with borrowed funds.
@sludge.bsky.socialIn a bipartisan influence play, Kalshi launched the Coalition for Prediction Markets, which pushes against states' efforts to regulate sports betting. Also w/ crypto firms. Led by former Reps. Sean Patrick Maloney (D-NY), former DCCC chair, and Patrick McHenry (R-NC), former chair of House FinServ.
@sludge.bsky.socialCindy Brown and Libby Greer were among the lobbyists at FTP (Forbes-Tate Partners) hired by Kalshi this summer. The two are board members of the "dark money" group Center Forward, which spends to back corporate-backed centrists and sponsors junkets for congressional staffers developing legislation.
@sludge.bsky.socialBrian Quintenz, a former majority commissioner of the CFTC during the first Trump admin, has served as a Kalshi board member since 2021. During his four-year tenure, Kalshi's operations were approved. He was nominated by Trump to lead the agency last year, but it was withdrawn.
@sludge.bsky.socialCaren B. Street of Squire Patton Boggs was among the revolving-door lobbyists hired by Kalshi this year. A chief of staff to former Rep. Karen Bass, she was executive director of the Congressional Black Caucus. Prediction markets are amid lawsuits in at least 20 states; CFTC has sued at least nine.
@sludge.bsky.socialTwo of Sen. Chuck Schumer's legislative directors were hired to lobby for Kalshi early this year: Heather McHugh, also former DCCC staff, and Meghan Taira with the Democratic firm Resolution Public Affiars. The pair have been lobbying the Senate on event contract regulations. Bills are now stalled.
