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Kalshi spent $1.8 million on lobbying in the first half of 2026, nearly triple its $615,000 total for all of 2025, according to a Demand Progress report covered by NJTODAY.NEWS.
The report says Kalshi and Polymarket are increasing lobbying and hiring politically connected figures as they seek to prevent states from regulating their sports contracts as gambling.
Prediction market companies add political advisers
According to Demand Progress, Kalshi hired Stephanie Cutter, John Bivona, Tony Hanagan, and Jed Bhuta. Polymarket hired former Trump campaign adviser David Urban.
The Coalition for Prediction Markets hired Sean Patrick Maloney as president and Patrick McHenry as senior adviser, the group reported. Demand Progress characterized the coalition as the industry’s “front group.”
Donald Trump Jr. also holds paid advisory roles with both Kalshi and Polymarket, according to Demand Progress.
Sports contracts face state gambling challenges
Prediction markets allow users to trade contracts on the outcomes of future events, including elections and sporting events. The platforms are overseen by the federal Commodity Futures Trading Commission, while several states have challenged their sports contracts as unlicensed gambling.
Demand Progress has previously urged the commission to reject efforts to weaken state gambling laws.
“State and tribal laws are one of the last lines of defense we have against predatory prediction market companies,” said Ella Fanger, corporate power policy adviser at Demand Progress.
Gambling problem? Call 1-800-GAMBLER.
More from playnj.com – CFTC Seeks Prediction Market Clarity as New Jersey Presses Kalshi Appeal – Better Markets Urges 2nd Circuit to Side With New York in Kalshi Appeal – Poll Finds 60% Oppose Election Betting Amid New Jersey’s Kalshi Fight
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Source: As reported by NJTODAY.NEWS.
