Kalshi backs new advocacy group to reshape prediction market rules
Kalshi has launched a new advocacy group to push for fairer rules in prediction markets. The organisation, called Americans for Fair Markets (AFM), was announced on Friday. Its goal is to shape legislation that supports innovation while protecting consumers and market integrity. The move comes as both Kalshi and rival platform Polymarket face growing scrutiny. Earlier this month, House Oversight Committee Chair James Comer (R-KY) revealed investigations into potential insider trading on both platforms. In response, the companies have strengthened their internal safeguards.
AFM’s website shares a similar colour scheme to Kalshi’s branding, but the group includes other members beyond the company. It describes itself as 'well capitalised,' though the exact funding remains undisclosed. The organisation will challenge groups that defend monopolies or spread misinformation about prediction markets.
Taylor Budowich, a former senior White House staffer, has joined AFM as a strategic advisor. The group plans to engage policymakers directly, aiming to shift their views on how these markets should operate. Kalshi’s push to distance itself from Polymarket—and from traditional betting platforms—adds further weight to the effort. AFM’s formation marks a new phase in the debate over prediction markets. The group will lobby for laws that balance innovation with stricter oversight. Its success could determine how regulators treat platforms like Kalshi and Polymarket in the future.
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