Kalshi supports formation of a prediction market lobbying group, former Trump administration official appointed as strategic advisor

Odaily Odaily: Prediction market platform Kalshi announced support for the formation of a new prediction market lobbying organization, Americans for Fair Markets, and appointed Taylor Budowich, former White House Deputy Chief of Staff under the Trump administration, as a strategic advisor. The organization will counter the sports betting and casino industries, which it claims are "trying to maintain their monopoly and spread misinformation about prediction markets to policymakers."

According to reports, Americans for Fair Markets will promote federal-level regulatory policies for prediction markets and launch paid advocacy campaigns in response to what it calls the "false narratives" targeting prediction markets. The organization will also join a broader industry lobbying front, including the Coalition for Prediction Markets, established in December 2025 with support from Coinbase, Crypto.com, and Robinhood.

On the same day, the U.S. House of Representatives launched an investigation into Kalshi and its main competitor Polymarket, focusing on how the platforms handle insider trading issues. As prediction markets face stricter scrutiny in the U.S. and globally, related regulatory controversies continue to intensify.

Kalshi stated that the new organization will support the Commodity Futures Trading Commission's regulation of prediction markets and endorse KYC requirements, insider trading bans, and restrictions on markets involving violence and terrorism under a federal regulatory framework. John Bivona, Kalshi's Head of Government Relations, said: "We will not lose to established interest groups trying to protect their monopolistic profits in terms of funding or organizational capacity." (Cointelegraph)