Kalshi Launches Prediction Market Lobbying Group, Appoints Trump Official as Strategic Advisor

According to Odaily and Cointelegraph, prediction market platform Kalshi announced support for establishing Americans for Fair Markets, a new lobbying organization, and appointed Taylor Budowich, former deputy White House chief of staff under the Trump administration, as strategic advisor. The organization will advocate for federal-level prediction market regulations and counter what it describes as false narratives promoted by sports betting and casino industries.

On the same day, the U.S. House of Representatives launched an investigation into Kalshi and its rival Polymarket, focusing on how the platforms handle insider trading issues. Kalshi said it supports regulation by the U.S. Commodity Futures Trading Commission and backs key safeguards including know-your-customer requirements and insider trading prohibitions.