{"id":1470,"date":"2026-07-21T19:09:56","date_gmt":"2026-07-21T19:09:56","guid":{"rendered":"https:\/\/modernhomejournals.com\/?p=1470"},"modified":"2026-07-21T19:09:56","modified_gmt":"2026-07-21T19:09:56","slug":"prediction-markets-bet-on-lobbying-for-policy-wins","status":"publish","type":"post","link":"https:\/\/modernhomejournals.com\/?p=1470","title":{"rendered":"Prediction Markets Bet on Lobbying for Policy Wins"},"content":{"rendered":"<div>\n<div>\n<\/div>\n<div>\n<p>Prediction market companies are expanding their lobbying footprint in Washington, D.C., where government officials have been slow to enter the escalating policy fight between the likes of Kalshi and Polymarket and traditional sports betting giants.<\/p><p>Read more <a href=\"https:\/\/modernhomejournals.com\/?p=1468\">Smithsonian Director Defends U.S. History Museum Against Republican Attacks<\/a><\/p><p>From April through June, the nation\u2019s leading prediction market company, Kalshi, <span><u>spent<\/u><\/span> $500,000 lobbying federal policymakers on \u201cmatters affecting prediction markets,\u201d according to new federal records. That\u2019s more than the company has <span><u>spent in a single quarter<\/u><\/span> since first <span><u>registering<\/u><\/span> to lobby in July 2025.<\/p><div>\n<\/div>\n<p>Kalshi also hired a team of lobbyists at FTP, the firm formerly known as Forbes Tate Partners, to work on \u201cissues related to legislation governing regulation of prediction markets,\u201d according to a <span><u>federal lobbying registration<\/u><\/span> form filed last week. Kalshi did not respond to an email requesting comment on its specific lobbying activities or decision to retain FTP.<\/p>\n<section>\n<div>\n<h2>\n<span>Trending<\/span>\n<\/h2>\n<\/div>\n<div>\n<div>\n<ul>\n<li>\n<div>\n<div>\n<div>\n<div>\n\n<figure class=\"wp-block-image size-large\">\n<figure class=\"wp-block-image size-medium_large\"><img loading=\"lazy\" decoding=\"async\" alt=\"Sen. John Fetterman\" class=\"wp-image-1437\" height=\"512\" src=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/5a9f6c7d86c9c6b270b520b2be8e629f-768x512.jpg\" width=\"768\" srcset=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/5a9f6c7d86c9c6b270b520b2be8e629f-768x512.jpg 768w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/5a9f6c7d86c9c6b270b520b2be8e629f-300x200.jpg 300w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/5a9f6c7d86c9c6b270b520b2be8e629f.jpg 1024w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/figure>\n<\/figure>\n\n<\/div>\n<\/div>\n<\/div>\n<div><h3>\n<span>\n                      Fetterman\u2019s Ultimatum Is Giving Some Democrats Anxiety He\u2019ll Switch Parties\n                    <\/span>\n<\/h3><\/div>\n<\/div>\n<\/li>\n<li>\n<div>\n<div>\n<div>\n<div>\n\n<figure class=\"wp-block-image size-large\">\n<figure class=\"wp-block-image size-medium_large\"><img loading=\"lazy\" decoding=\"async\" alt=\"260721-flag-capitol-ak-ap-25164774123431\" class=\"wp-image-1465\" height=\"512\" src=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/3f272dd51dbcb22b3440044b5ddc52c7-768x512.jpg\" width=\"768\" srcset=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/3f272dd51dbcb22b3440044b5ddc52c7-768x512.jpg 768w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/3f272dd51dbcb22b3440044b5ddc52c7-300x200.jpg 300w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/3f272dd51dbcb22b3440044b5ddc52c7.jpg 1024w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/figure>\n<\/figure>\n\n<\/div>\n<\/div>\n<\/div>\n<div><h3>\n<span>\n                      U.S. Soldier Killed in Iraq Identified as North Carolina Father of Two\n                    <\/span>\n<\/h3><\/div>\n<\/div>\n<\/li>\n<li>\n<div>\n<div>\n<div>\n<div>\n\n<figure class=\"wp-block-image size-large\">\n<figure class=\"wp-block-image size-medium_large\"><img loading=\"lazy\" decoding=\"async\" alt=\"Andy Kim\" class=\"wp-image-1438\" height=\"512\" src=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/404db50bc3ebf37bf5153e16730ddec1-768x512.jpg\" width=\"768\" srcset=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/404db50bc3ebf37bf5153e16730ddec1-768x512.jpg 768w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/404db50bc3ebf37bf5153e16730ddec1-300x200.jpg 300w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/404db50bc3ebf37bf5153e16730ddec1.jpg 1024w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/figure>\n<\/figure>\n\n<\/div>\n<\/div>\n<\/div>\n<div><h3>\n<span>\n                      Andy Kim\u2019s Big Health Care Pitch: Enroll Every Kid in Medicaid\n                    <\/span>\n<\/h3><\/div>\n<\/div>\n<\/li>\n<li>\n<div>\n<div>\n<div>\n<div>\n\n<figure class=\"wp-block-image size-large\">\n<figure class=\"wp-block-image size-medium_large\"><img loading=\"lazy\" decoding=\"async\" alt=\"Sen Bill Cassidy\" class=\"wp-image-1424\" height=\"512\" src=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/b94e0eb2c68d9295fd18e957e37ef9c8-768x512.jpg\" width=\"768\" srcset=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/b94e0eb2c68d9295fd18e957e37ef9c8-768x512.jpg 768w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/b94e0eb2c68d9295fd18e957e37ef9c8-300x200.jpg 300w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/07\/b94e0eb2c68d9295fd18e957e37ef9c8.jpg 1024w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/figure>\n<\/figure>\n\n<\/div>\n<\/div>\n<\/div>\n<div><h3>\n<span>\n                      Senate Republicans Are Now Pushing for More of a Say in Iran War\n                    <\/span>\n<\/h3><\/div>\n<\/div>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/section>\n<p>Polymarket\u2019s parent company, Blockratize, has a comparatively smaller federal lobbying operation. Blockratize paid Advocus Partners $90,000 during the second quarter to \u201cprovide strategic counsel and advocacy regarding development of digital asset policy and information markets.\u201d<\/p><p>But the company is taking big swings in Washington, <span><u>jumping back<\/u><\/span> into the U.S. market after a yearslong ban for failing to properly register with federal regulators, which <span><u>dropped investigations<\/u><\/span> into the company this month.<\/p><p>One of the lobbyists on the Advocus Partners contract, Keaghan Ames, previously served as a senior policy adviser and counselor at the Commodity Futures Trading Commission, a federal agency that has shielded prediction markets from state-level efforts to regulate the industry.<\/p><p>In recent months, the CFTC has sued several states, including <span><u>New York<\/u><\/span>, <span><u>Wisconsin<\/u><\/span>, <span><u>Arizona, Connecticut and Illinois<\/u><\/span>, asserting the agency has the sole authority to regulate prediction markets.<\/p><p>The CFTC has also <span><u>initiated<\/u><\/span> rulemaking on the federal regulation of prediction markets. President Donald Trump said in a <span><u>Truth Social post<\/u><\/span> on May 26 that it was \u201ccritically important\u201d for the CFTC to maintain exclusive authority over prediction markets.<\/p>\n<p>Olivia Chalos, the deputy chief legal officer of Polymarket, wrote in a statement to NOTUS that \u201ca uniform federal framework serves the interests of responsible market operators and the participants they serve.\u201d<\/p><p>Chalos also said Polymarket\u2019s internal process for monitoring insider trading and other illegal activities has led to nearly 100 referrals to law enforcement to date.<\/p><p>In April, the Department of Justice <span><u>charged<\/u><\/span> an Army soldier with allegedly using classified information to use Polymarket to bet on the timing of the capture of then-Venezuelan President Nicol\u00e1s Maduro. The bet netted the soldier $400,000, according to a Justice Department <span><u>press release<\/u><\/span>.<\/p><p>Read more <a href=\"https:\/\/modernhomejournals.com\/?p=1466\">Biden Loses His Appeal to Halt Release of Memoir Recordings<\/a><\/p><p>Kalshi has recently accused <span><u>political candidates<\/u><\/span> of betting on their own races and <span><u>a White House teleprompter operator<\/u><\/span> of betting on Trump\u2019s speeches.<\/p><p>The Senate <span><u>unanimously passed a measure<\/u><\/span> in April banning members and their staffers from using prediction markets.<\/p><p>The House has yet to pass a similar ban, although Rep. Bryan Steil (R-Wisconsin) <span><u>introduced a bill<\/u><\/span> last month that would bar members, their spouses and dependent children from betting on those platforms. And Rep. James Comer (R-Kentucky), who chairs the House Oversight Committee, <span><u>launched an investigation<\/u><\/span> in May into the \u201cWild West\u201d of insider trading on prediction markets.<\/p>\n<p>Sports betting giants, for their part, have been fighting for state-level regulation of prediction-market sports contracts, which they argue is no different from traditional sports betting.<\/p><p>DraftKings <span><u>spent $350,000<\/u><\/span> on federal lobbying efforts during the second quarter, pressing officials on a range of issues, including regulating prediction markets.<\/p><p>And FanDuel, which spent a <span><u>combined $480,000<\/u><\/span> on federal lobbying between April and June, also <span><u>retained<\/u><\/span> FGS Global in May to lobby on \u201cissues related to online sports betting.\u201d One of the lobbyists on the account is Paul Poteet, a former senior policy adviser to Senate Majority Leader John Thune.<\/p><p>The American Gaming Association, a leader in the sports betting and casino gaming industries\u2019 efforts to slow the expansion of prediction markets, <span><u>estimates<\/u><\/span> states have lost more than $1.2 billion in tax revenue as prediction markets have exploded.<\/p><p>The American Gaming Association spent $630,000 from April through June to lobby on a range of issues including \u201cissues around events contracts on sports and prediction markets.\u201d This includes <span><u>House<\/u><\/span> and <span><u>Senate<\/u><\/span> bills that would prohibit contracts on events including sports.<\/p><p>\u201cOur advocacy work spans the full range of efforts to protect and defend the legal gaming industry on numerous important issues,\u201d Dara Cohen, a spokeswoman for the American Gaming Association, told NOTUS in a statement. \u201cThat being said, our increased focus on \u2018prediction markets\u2019 is predictable as they are under fire for mocking congressional intent by operating as backdoor sportsbooks while evading state and tribal laws.\u201d<\/p><p>Win for America, a super PAC, has <span><u>raised $70 million<\/u><\/span> from sports betting companies, including FanDuel, DraftKings and Fanatics Betting and Gaming, that it could spend in the 2026 midterm elections. And Kalshi executives, in particular, have been personally contributing money to the campaign accounts of various Democrats and Republicans, <span><u>NOTUS reported<\/u><\/span> this month.<\/p><p>Read more <a href=\"https:\/\/modernhomejournals.com\/?p=1462\">U.S. Soldier Killed in Iraq Identified as North Carolina Father of Two<\/a><\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Kalshi and Polymarket are navigating political insider trading controversies while facing pressure in Washington from traditional sports betting giants.<\/p>\n","protected":false},"author":1,"featured_media":1469,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-1470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Prediction Markets Bet on Lobbying for Policy Wins - 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