The Department of Homeland Security has entered a shutdown after Senate Democrats on Thursday blocked two funding bills, prompting a partial government shutdown.
This comes just days after a partial government shutdown was lifted after President Donald Trump signed a $1.2 trillion funding package.
Democrats Demand Changes
Democrats demanded several changes to the DHS after federal immigration agents killed Alex Pretti in Minneapolis. While Trump was open to some of the changes, the Democrats reportedly rejected a proposal from White House on Wednesday.
The U.S. is still recovering from a historic 43-day shutdown—the longest in American history. It caused an estimated $7-$14 billion loss in real GDP and forced nearly 900,000 federal employees to work without pay or face furloughs.
DHS Funding Expires
The baseline funding for DHS expired on Saturday after lawmakers failed to reach a deal prior to a week-long recess. The current shutdown is limited only to the DHS, but is expected to also cause travel delays as it will keep Transportation Security Administration officers on the job at U.S. airports without pay.
Prediction Market Bets On Shutdown Length
The prediction market was spot on about whether there would be a government shutdown on Valentine’s Day, with over $29 million bet on the contract.
The prediction market is also betting on how long the current partial government shutdown will last.
Data from Kalshi, a federally authorized betting platform, shows that over $735,000 has been bet on the contract “How long will the government shutdown last?”
The “At least 20 days” option is leading with a 69% probability as per bettors, followed by “At least 25 days” with a 50% probability. The “At least 30 days” option is next with a 41% probability.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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