Drexel University’s most recent president, John Fried, is alleged to have wagered against the university’s first-year enrollment percentages after his most recent tax filings have been made public. 

The filings included his regular income statements and property tax forms, along with multiple trades on the prediction market Kalshi. Fried is alleged to have bet on dwindling enrollment numbers for the two academic years following his resignation.

Documents reviewed by The Rectangle show that the former president placed multiple trades through the prediction-market app which, among others, include positions forecasting a decline in Drexel’s first-year enrollment numbers for the academic years 2025 to 2026 and 2026 to 2027.

Company officials have described Kalshi as an event-trading marketplace regulated by the Commodity Futures Trading Commission. Participation is framed as investing rather than online gambling. 

Also found in Fried’s filings were several smaller trades focusing on other Philly schools’ statistics and SEPTA operations. These financial disclosures kick-started a debate within the Drexel community around the increased popularity of prediction markets and their level of involvement in the school’s system.

Some students have expressed concern; however, others appear unaffected.

“It’s honestly no big deal,” said Tanner Reeves, a junior studying finance and gambling strategies who described himself as having “a bit of a thing for gambling.”

“The guy has to make money somehow,” Reeves added.

A first-year student who said she was still adjusting to Drexel’s academic structure admitted to being unsure how Kalshi worked or why you could invest in university statistics.

“I still don’t really get it,” the student admitted to The Rectangle. “It seems unfair that you could make money like that,” she added.

The filings also come as the former Drexel president now serves as president of Temple University, putting further scrutiny on his negative investing outlook for Drexel enrollment statistics. Also found in the filings were multiple positions predicting positive enrollment statistics, dining hall reviews, and academic performance.

One Temple student remarked that the situation wasn’t concerning for them, stating that they found comfort in the Temple-related investments.

“I feel supported, he bets the over on everything for us,” the student said, “If his bets are accurate, we have nothing to worry about here.”

Fried did not respond to the request for comment regarding his trades. Drexel representatives also declined to elaborate on whether external financial activity is subject to the same internal disclosure processes.

In a brief statement, university officials emphasized that the current administration’s focus is steadfast on strengthening enrollment numbers and restoring confidence in long-term positive outcomes. They added that while speculation is sure to follow along with unwanted attention, future growth predictions would come from the admissions offices rather than speculative forecasting.

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