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The organization AFM, which advocates for prediction markets supported by Kalshi, has been officially established, with a former Trump aide joining as a strategic advisor.
AFM stated that it will promote a federal-level regulatory framework for prediction markets and oppose restrictions on the prediction market industry by traditional gambling interests and related interest groups.
John Bivona, Kalshi's head of government relations, said: "Millions of Americans have shown that they want regulated, open, and fair prediction markets."
As the prediction market industry grows rapidly, disputes over regulatory authority between federal and state regulators in the United States continue to escalate.
Meanwhile, the U.S. Congress has recently launched insider trading investigations into Kalshi and Polymarket.
AFM stated that it will support banning insider trading and oppose markets related to war, terrorism, death, or assassination.