Kalshi leads prediction markets’ $3 million effort to fight off state regulations

By: Claire Cleary, OpenSecrets

Outlets: Arkansas Advocate

Published: October 5, 2026

Words: 1,923

Last Updated: 1 week, 6 days ago


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As prediction markets have exploded in popularity over the past two years, they have also become increasingly controversial – setting off a lobbying-fueled power struggle for regulation of the platforms.

Amid allegations of insider trading, bets on military operations, and deceptive marketing practices, some states are seeking to sue or ban prediction markets. But the federal government has taken an unusual role in the legal battle, with the Commodity …

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