A new lobbying fight is starting in Washington as prediction market platform Kalshi supports the launch of a new advocacy group called Americans for Fair Markets (AFM).
The group says it wants to protect federally regulated prediction markets from increasing pressure by casino and sportsbook operators, while also pushing for clearer rules in the fast-growing sector.
AFM officially began on May 22 and quickly established itself as a counterweight to traditional gaming industry lobbyists.
According to the group, prediction markets have grown into a huge industry worth nearly $500 billion, attracting millions of users who bet on the results of political events, sports, economic data, and other real-world happenings.
The group says that current casino and sportsbook operators are trying to reduce competition by calling prediction markets unregulated gambling. AFM board member and Kalshi government relations head John Bivona said the group will not let “entrenched interests” control the discussion in Washington.
The lobbying effort comes at a delicate time for the industry. US lawmakers and regulators are looking more closely at whether prediction markets should be seen as financial products, gambling sites, or a completely new type of asset.
This debate is especially important for crypto-related platforms like Polymarket, which have become much more popular in the last two years.
Kalshi Launches AFM Lobby Group as Congress Probes Prediction Markets
Prediction markets are entering a high-stakes phase as Kalshi launches Americans for Fair Markets (AFM) while Congress intensifies scrutiny around insider trading concerns. Regulation vs innovation is becoming… pic.twitter.com/yeqYbqXsYv
— 3.0 TV (3verseTV) (@reallive3tv) May 25, 2026
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