Prediction Market Industry Intensifies Lobbying Efforts Amid U.S. Regulatory Scrutiny

The prediction market industry is ramping up its lobbying efforts in Washington as the U.S. Congress considers tightening regulations. According to Odaily, this move comes in response to criticisms that the industry may be contributing to the expansion of gambling and posing risks of potential insider trading. Leading platforms like Kalshi, along with several crypto and sports betting companies involved in prediction markets, are forming lobbying teams to influence legislative processes and alleviate regulatory pressures. Industry insiders are concerned that regulatory actions targeting this multi-billion-dollar sector may accelerate.