Kalshi Debuts 'Fair Markets' Lobby Group as Congress Opens Insider Trading Probe
Kalshi has launched an advocacy group, Americans for Fair Markets (AFM), to influence policy and counter what it describes as misinformation from the gaming lobby and industry monopolies. AFM will push for legislation supporting innovation, integrity, and consumer protection in prediction markets. Taylor Budowich, a former senior White House staffer, will serve as a strategic advisor. While AFM’s site uses Kalshi's branding, the group includes other members and is well funded, though the exact amount is undisclosed. This initiative comes amid growing scrutiny of prediction markets in Washington, with Congress investigating insider trading on both Kalshi and its competitor Polymarket. Critics, including the American Gaming Association, argue prediction markets are disguising sports betting as financial instruments, while AFM warns that banning regulated markets would drive users to unregulated, unsafe platforms.
