Kalshi and groups representing the casino and gaming industry and online sports betting apps, all have boosted their lobbying spending in 2026.
- Prediction market platforms like Kalshi and Polymarket are significantly increasing their lobbying spending in Washington to influence lawmakers amidst growing regulatory scrutiny.
- The gambling and casino industry is also escalating its lobbying efforts to counter prediction markets, leading to a heated debate over the classification of event contracts as either innovative financial products or illegal sports betting.
- Despite increased lobbying, legislative action on prediction markets is unlikely in 2026 due to the upcoming elections, with focus shifting to potential CFTC rule-making and ongoing investigations into insider trading concerns.
Topics: Political endorsements opposition, Legal regulatory, Pro innovation government policy, Legislative debates, Securities law classification
Tags: #predictionmarkets #kalshi #polymarket #lobbying #congress #insidertrading #cftc #gamblingindustry #regulatoryscrutiny #eventcontracts
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