Bloomberg: Prediction markets increase lobbying in Washington to counter regulatory tightening pressure

Odaily Planet Daily News: As the U.S. Congress considers tightening regulations, the prediction market industry is increasing lobbying efforts in Washington to respond to criticism that it fosters gambling expansion and potential insider trading risks.

Leading platforms like Kalshi, along with several crypto and sports betting companies involved in prediction markets, are forming lobbying teams to influence legislation and ease regulatory pressure. Industry insiders worry that regulatory actions targeting this industry, which has already reached tens of billions of dollars, may accelerate. (Bloomberg)