Kalshi has backed the launch of Americans for Fair Markets, a new lobbying group created to advocate for prediction markets as federal scrutiny intensifies. The move signals a coordinated industry push to shape regulation, public perception and the legal treatment of event-based contracts.
The group debuted in late May 2026 and includes Kalshi’s head of government relations, John Bivona, on its board. That board role links Kalshi directly to the advocacy effort, while Taylor Budowich, a former Deputy Chief of Staff in the Trump White House, has been tapped as strategic advisor.
Federal Oversight Becomes the Core Message
Americans for Fair Markets is positioning its agenda around federal regulation, consumer safeguards and market integrity. The group is pushing for CFTC oversight, arguing that prediction markets should be treated as regulated financial venues rather than conventional wagering products.
Its platform also calls for Know-Your-Customer requirements, strict bans on insider trading tied to event contracts and exclusions for markets related to violence or terrorism. Those safeguards appear designed to answer the most visible policy objections around manipulation, illicit use and harmful contract categories.
The group is also framing its work as a response to opposition from sports betting and casino interests. That positioning casts prediction markets as a competitive financial-market category, not simply an extension of gambling infrastructure.
Political Networks Add Weight to the Push
Budowich’s appointment brings Washington experience into the campaign. His role suggests the sector wants a more sophisticated lobbying operation, especially as lawmakers and regulators examine how event contracts should be supervised.
Bivona’s board position reinforces Kalshi’s operational stake in the outcome. The company has a clear interest in reducing legal ambiguity, particularly if a federal framework can expand access while standardizing compliance expectations.
Reports also noted Donald Trump Jr.’s advisory involvement with both Kalshi and rival platform Polymarket. That overlap highlights the political networks forming around prediction markets, as operators seek influence during a critical regulatory window.
The launch comes as congressional investigators scrutinize alleged insider trading in prediction markets. That timing gives the lobbying effort both defensive and offensive dimensions, addressing regulatory concerns while trying to recast the business model as legitimate market infrastructure.
The policy agenda would reshape onboarding, surveillance and product design. Mandatory KYC and CFTC oversight would raise compliance costs, but they could also make the sector more accessible to institutional participants that need clearer rules.
The next test is whether Americans for Fair Markets can persuade lawmakers that prediction markets deserve a federal framework with strict integrity controls. If successful, the push could alter risk models, custody arrangements and market access across the sector.
