Prediction market operator Kalshi forms advocacy group to influence policy as lawmakers scrutinize insider trading risks in markets.
Kalshi has launched Americans for Fair Markets (AFM), a lobbying group aimed at shaping legislation around prediction markets. The move follows a House Oversight Committee probe into insider trading, led by Chair James Comer (R-KY). AFM describes itself as “well-capitalized” and will advocate for market integrity and innovation.
The group has appointed Taylor Budowich, a former White House communications staffer and pro-Trump Super PAC leader, as a strategic advisor. AFM’s focus includes countering opposition from sportsbooks and casinos, which Kalshi claims seek to protect monopolies. The organization’s website mirrors Kalshi’s branding, though funding details remain undisclosed.
Kalshi’s initiative highlights its push to differentiate itself from competitors amid regulatory scrutiny. The timing aligns with broader congressional efforts to address perceived risks in financial and prediction markets.