According to Cointelegraph, Kalshi is supporting the formation of the American Fair Markets Organization, a lobbying group for prediction markets, and has invited former White House Deputy Chief of Staff Taylor Budowich to serve as a strategic advisor. The organization states it will advocate for federal-level policy development on prediction markets and support the U.S. Commodity Futures Trading Commission (CFTC) in regulating prediction markets. The report notes that the U.S. House of Representatives launched an investigation into Kalshi and Polymarket on the same day, focusing on how both companies handle insider trading. The organization also pledged to support a federally regulated platform with KYC requirements, prohibitions on insider trading, and restrictions on markets related to violence or terrorism.
Kalshi Supports the Formation of a U.S. Predictive Markets Advocacy Group
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Summary
Kalshi supports the launch of the U.S. Fair Markets Organization, a group advocating for clearer regulatory policy for predictive markets. The firm has appointed Taylor Budowich, former White House Deputy Chief of Staff, as a strategic advisor. The group favors CFTC oversight and aligns with CFT (Countering the Financing of Terrorism) guidelines. It pledges support for federal platforms with KYC checks and bans on markets linked to violence. The U.S. House is investigating Kalshi and Polymarket over concerns regarding insider trading.
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