White House · Polymarket · US Congress · Donald Trump · Decrypt
Kalshi unveiled an advocacy group on Friday to help shape policymakers’ perception of prediction markets
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Americans for Fair Markets (AFM) will actively combat “interests that are focused on protecting their monopolies and seeding lies,” Kalshi said highlighting the organization’s focus on legislation that supports innovation, market integrity, and consumer protection.
Key facts
- On Friday, for example, House Oversight Committee Chair James Comer (R-KY) announced investigations into insider trading on Polymarket and Kalshi
- Kalshi said the group has tapped Taylor Budowich, a former senior White House staffer who resigned in September, to serve as a strategic advisor
- But the gaming lobby claims it’s the prediction platforms that are doing the deceiving, a stance American Gaming Association President and CEO Bill Miller made clear during testimony before Congress
- The organization's website borrows its color scheme from Kalshi’s logo, but Americans for Fair Markets has other members, a spokesperson told Decrypt
Summary
Kalshi has unveiled Americans for Fair Markets (AFM), a "well-capitalized" advocacy group designed to lobby Capitol Hill. AFM has tapped Taylor Budowich, a prominent former White House communications staffer and pro-Trump Super PAC leader. The group's debut comes immediately after House Oversight Committee Chair James Comer (R-KY) launched insider trading investigations. Kalshi unveiled an advocacy group on Friday to help shape policymakers’ perception of prediction markets, billing the move as a way to level the playing field against sportsbooks and casinos.