Kalshi backs prediction markets lobby group with former Trump official
Kalshi backed a new lobbying group to defend prediction markets and push federal regulation, while U.S. scrutiny of the sector intensifies.
Intelligence analysis by GPT-5.4 Mini
Kalshi has helped launch Americans for Fair Markets, a new advocacy group led by former Trump White House official Taylor Budowich as strategic advisor. The group says it will counter sportsbook and casino lobbying, support federal oversight through the CFTC, and challenge claims it says misrepresent prediction markets.
Kalshi helps people trade on what they think will happen in the world. Now it is helping start a new group that will speak up for those kinds of markets in Washington.
The group wants to answer critics who say these markets should be treated like betting games. It also wants rules that check who is using the market and stop cheating.
Think of it like two teams arguing over who gets to referee a game. One side wants the finance referee, and the other side wants the gambling referee. The result changes how the game is played.
Analysis
What happened
Kalshi said it is supporting a new lobbying group called Americans for Fair Markets. The group is meant to push back on what Kalshi describes as anti-prediction-market campaigning by sportsbooks and casinos.
The new group has brought in Taylor Budowich, a former deputy White House chief of staff under Donald Trump, as a strategic adviser. Kalshi says the group will run paid campaigns and answer what it calls false claims about prediction markets.
The policy fight
The timing matters. On the same day, the U.S. House opened a probe into Kalshi and Polymarket over how the platforms handle insider trading. That shows prediction markets are drawing more attention from lawmakers and regulators in the U.S. and abroad.
Kalshi says Americans for Fair Markets will support the Commodity Futures Trading Commission as the main regulator for prediction markets. That position runs into conflict with state regulators, which argue these platforms may violate local gambling laws.
What the group says it wants
Americans for Fair Markets says it wants federally regulated platforms with user protections such as know-your-customer checks, bans on insider trading, and limits on markets tied to violence or terrorism. Kalshi’s head of government relations, John Bivona, also joined the group’s board and said the industry will not be “outspent or out-organized” by entrenched interests.
The story shows prediction markets are moving deeper into Washington politics. The sector is no longer only about trading contracts on events; it is now about which regulators get control, what rules apply, and whether the products are treated more like financial markets or gambling.
Key points
- Kalshi backed a new lobbying group called Americans for Fair Markets.
- The group named former Trump official Taylor Budowich as a strategic adviser.
- Kalshi says the group will push back on sportsbook and casino lobbying.
- The launch came as the U.S. House opened a probe into Kalshi and Polymarket.
- The group says it supports federal oversight, KYC checks, and insider-trading bans.
