Online prediction platform Polymarket has launched a "DOGE tracker" to follow government cuts that President Donald Trump's Department of Government Efficiency (DOGE) makes.
Newsweek reached out to DOGE via email for comment.
Why It Matters
Trump created DOGE, a task force led by billionaire Elon Musk, to reduce federal costs and workforce. In its first month of operation, it has restructured multiple federal agencies and recommended mass layoffs.
Musk has called for sweeping cuts to federal government spending, claiming it should be reduced by up to $2 trillion annually. Supporters argue this will boost efficiency and help tackle the national debt, while critics argue it will reduce access to government services.
What To Know
Polymarket, which gained prominence and credibility for correctly calling the results of the 2024 presidential election, launched a DOGE tracker on Friday that provides updates on spending cuts and forecasts for the future.
According to the tracker, as of Monday, $49.09 billion of United States government spending and funding has been slashed thus far. The most recent cut is labeled $10 million to "Mozambique Voluntary Medical Male Circumcision," which was cut on Saturday, according to Polymarket's tracker.
However, Polymarket states that the tracker is not yet based on official data, noting it is based on DOGE's official X (formerly Twitter) account.
The tracker comes after DOGE has continued its efforts to downsize government employees and agencies, announcing on Friday that it will target other government agencies in addition to the United States Agency for International Development (USAID), which Polymarket states is the largest cut so far with $420.14 million.
According to the Associated Press, a broader effort by the Department of Health and Human Services is being made to reduce its workforce, which includes the Food and Drug Administration (FDA), the National Institutes of Health, and the Centers for Disease Control and Prevention (CDC). On Friday, the HHS announced that 5,200 probationary employees across these agencies would be terminated.
However, legal challenges continue as attorneys general from 14 states filed a lawsuit in a Washington, D.C., federal court on Friday, arguing that Musk was illegally appointed and calling for the court to stop DOGE's drastic cuts across the federal government.
The lawsuit states that DOGE has spread "chaos and confusion" across the U.S. and describes Musk as "an agent of chaos."
Meanwhile, bettors on Polymarket can also go to the tracker to bet on what DOGE will do in the future.
What People Are Saying
Health care professional Arielle Kane, Sunday on X: "Hey! Elon Musk your doge minions just fired me and my colleagues at CMMI. We were working on improving maternal health outcomes AT LOWER COSTS so that less pregnant women would die in this county. I thought that would fit nicely into your agenda?"
Senator Lisa Murkowski, an Alaska Republican, Friday on X: "Dozens of Alaskans – potentially over 100 in total – are being fired as part of the Trump administration's reduction-in-force order for the federal government. Many of these abrupt terminations will do more harm than good, stunting opportunities in Alaska and leaving holes in our communities.
"We can't realize our potential for responsible energy and mineral development if we can't permit projects. We will be less prepared to manage summer wildfires if we can't support those on the front lines. Our tourism economy will be damaged if we don't maintain our world-class national parks and forests."
President Donald Trump told reporters at the White House last week: "Elon got access only to letting people go that he thinks are no good if we agree with him, and it's only if we agree with him. Elon can't do and won't do anything without our approval. And we'll give him the approval where appropriate, and where not appropriate, we won't. Where we think there's a conflict, we won't let him go near it."
What Happens Next
Cuts to federal government spending are expected to continue and will need to expand substantially if Musk is to reduce expenditure by anything close to $2 trillion annually.
This is likely to spark more conflict with federal employees and their unions, with workers telling Newsweek earlier this month that morale has fallen sharply since Trump returned to the White House.
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About the writer
Natalie Venegas is a Weekend Reporter at Newsweek based in New York. Her focus is reporting on education, social justice ... Read more