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Kalshi-backed prediction market advocacy group launches with support from former Trump aide
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A new advocacy organization focused on prediction markets has emerged as the midterm elections approach and will be supported by former White House Deputy Chief of Staff Taylor Budowich.
Key facts
- Prediction markets have gone mainstream over the past few years, gaining popularity after the 2024 elections, when retail traders flocked to bet on key races
- AFM's Budowich was working at the White House until last year, where he oversaw communications, speech writing and cabinet affairs
- A new advocacy organization focused on prediction markets has emerged as the midterm elections approach and will be supported by former White House Deputy Chief of Staff Taylor Budowich
- On Friday, Kalshi announced that Budowich will be a strategic advisor for Americans for Fair Markets, a new group which it says will "take on the sportsbook and casino interests that are focused
Summary
On Friday, Kalshi announced that Budowich will be a strategic advisor for Americans for Fair Markets, a new group which it says will "take on the sportsbook and casino interests that are focused on protecting their monopolies and seeding lies about prediction markets to policymakers. "They're not going to be outspent or out-organized by entrenched interests protecting their monopolies," said board member John Bivona, head of government relations at Kalshi, in a statement. Prediction markets have gone mainstream over the past few years, gaining popularity after the 2024 elections, when retail traders flocked to bet on key races. At the same time, regulating prediction markets has become a point of contention between the federal Commodity Futures Trading Commission and state regulators.