Kalshi Backs New Prediction Markets Lobby Group With Former Trump Official

Prediction market platform Kalshi has supported the launch of a new lobbying organization, Americans for Fair Markets, as regulatory pressure on the industry continues to grow in the United States.

The group will advocate for prediction markets and push for federal rules, while former White House deputy chief of staff Taylor Budowich has joined as a strategic adviser.

Kalshi Challenges Sportsbooks and Casinos

Kalshi said the organization will push back against sportsbooks and casino operators, accusing them of trying to protect their monopolies by spreading misleading information about prediction markets to policymakers.

According to the company, Americans for Fair Markets plans to run public campaigns to counter what it called false narratives and support federally regulated prediction platforms.

The launch comes as lawmakers are paying closer attention to the sector. On the same day, the US House reportedly began examining Kalshi and rival platform Polymarket over concerns linked to insider trading and platform oversight.

Prediction Markets Face Regulatory Debate

The new lobby group also aims to support oversight by the Commodity Futures Trading Commission (CFTC), which claims jurisdiction over prediction markets despite challenges from state regulators.

Americans for Fair Markets said it will support consumer protections, including know your customer checks, insider trading restrictions, and limits on markets connected to violence or terrorism.