Kalshi and Crypto.com have convened the Coalition for Prediction Markets to advocate for federal oversight of prediction markets as regulatory disputes intensify across the US.
The group, which also includes Coinbase, Robinhood, and Underdog, said it aims to protect access to federally supervised event-based trading and to counter state-level attempts to classify the products as gambling.
The coalition cited rising consumer adoption, noting industry figures showing the market generated nearly US$28 billion in trading volume through October.
It pointed to polling indicating more than 70% of voters believe prediction markets should not fall under gambling rules and that most prefer federal regulation.
