Prediction markets spend millions to influence state, federal governments

By: Kevin Hardy

Outlets: Stateline

Published: October 1, 2026

Words: 560

Last Updated: 2 weeks, 1 day ago

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Kalshi, Polymarket and the Coalition for Prediction Markets have spent at least $3 million this year on lobbying and campaign contributions across the federal and state levels, according to a new report from the government watchdog group OpenSecrets.

Prediction market platforms say they are like commodity markets that offer contracts to speculate on the future price of corn or oil — not sportsbooks that allow gamblers to place bets. But many states reject …

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