Kalshi launches 'Americans for Fair Markets' lobby group as Congress opens insider trading probe
Kalshi unveiled Americans for Fair Markets on May 22, a new advocacy group aimed at shaping policymakers' perception of prediction markets. The launch coincides with the opening of a congressional insider trading probe. Former Trump administration official Taylor Budowich is serving as a strategic advisor to the group. The membership roster also includes Crypto.com and Robinhood. Kalshi said the organization aims to shape policy around prediction markets and engage with policymakers. The lobbying push comes as House Oversight chair James Comer demands surveillance records from Kalshi and Polymarket CEOs by June 5.
Americans for Fair Markets gives Kalshi a dedicated lobbying vehicle separate from its legal coalition with Coinbase and Robinhood. That dual-track structure lets Kalshi press federal preemption in court while spending directly to soften state-level opposition in Minnesota, Wisconsin, and Ohio.
Kalshi joins Polymarket inside the same congressional enforcement perimeter as state lawmakers in Minnesota, Wisconsin, and Ohio advance parallel trading restrictions, creating a five-front compliance squeeze on federally registered prediction markets.