What is Americans for Fair Markets?

Americans for Fair Markets is a new lobbying organisation backed by Kalshi that aims to support federally regulated prediction markets in the US. The group said it will push back against what it described as misinformation from casinos and sportsbooks opposing the sector.

Why did Kalshi launch a prediction markets lobbying group?

Kalshi said the organisation was created to influence federal policy and defend prediction markets from growing political and regulatory pressure. The company argued that traditional gambling operators are trying to block competition from federally regulated event-based trading platforms.

Who is Taylor Budowich and why does his role matter?

Taylor Budowich is a former deputy White House chief of staff under Donald Trump who joined the group as a strategic advisor. His appointment signals that prediction market firms are increasing their political and lobbying presence in Washington.

Why are Kalshi and Polymarket under investigation?

The US House launched a probe into Kalshi and Polymarket over concerns about insider trading and market integrity. Lawmakers are examining whether traders may have benefited from non-public information in politically sensitive or geopolitical contracts.

How do prediction markets work?

Prediction markets allow users to trade contracts tied to future events such as elections, economic data, sports, or geopolitical outcomes. Traders effectively bet on probabilities, with contract prices moving based on market expectations of what may happen.

Why are prediction markets controversial in the US?

State regulators and gambling groups argue some prediction markets resemble sports betting or online gambling. Meanwhile, the Commodity Futures Trading Commission claims these platforms fall under federal commodities regulation rather than state gambling laws.

What does this mean for crypto investors?

Prediction markets increasingly overlap with crypto trading because platforms like Polymarket use blockchain infrastructure and attract crypto-native users. More regulation or political scrutiny could affect trading volumes, platform growth, and investor sentiment across the sector.

How is Donald Trump connected to prediction markets?

Donald Trump recently criticised prediction markets over Iran war-related betting activity but later warned the US risked falling behind if it restricted the sector too heavily. Donald Trump Jr. also has advisory and investment ties to both Polymarket and Kalshi.

Image for illustrative purposes only. Not a real photo.

Kalshi launches prediction markets lobbying push

Written by Jon CuthbertPublished May. 25 2026Last Updated May. 25 2026

Kalshi backed a new lobbying organisation called Americans for Fair Markets as prediction markets face growing regulatory scrutiny in the United States.

The group appointed former White House deputy chief of staff Taylor Budowich as a strategic advisor while positioning itself against casinos and sportsbooks that it claimed were trying to protect existing gambling monopolies.

“We’re not going to be outspent or out-organised by entrenched interests protecting their monopolies,”

Said Kalshi head of government relations, John Bivona.

Kalshi said Americans for Fair Markets would support federally regulated prediction markets and work with the Commodity Futures Trading Commission on oversight standards including know-your-customer requirements, insider trading bans, and restrictions on markets linked to violence or terrorism.

The lobbying push expands a broader political effort around prediction markets following the December 2025 launch of the Coalition for Prediction Markets, which is backed by Coinbase, Crypto.com, and Robinhood.

The announcement came as the US House opened a probe into Kalshi and rival platform Polymarket over concerns about insider trading practices and market integrity in prediction contracts.

US President Donald Trump recently criticised prediction markets over well-timed Iran war bets before later warning the US could “get left out in the cold” if the country failed to support the sector, while Donald Trump Jr. has advisory and investment ties to both Polymarket and Kalshi.