Kalshi
Kalshi launches fair markets lobby group amid congressional probe
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Kalshi has unveiled a new advocacy group called Americans for Fair Markets to influence policymakers on prediction markets. The move comes as the US House Oversight Committee launched an investigation into Kalshi and Polymarket over insider trading concerns.
Kalshi has secured $1 billion in fresh funding, doubling its valuation to $22 billion in a round led by Coatue. The U.S.-based prediction market platform reported strong growth in institutional trading amid broader interest in event contracts.
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Venture capital firm a16z has filed an 18-page letter backing the Commodity Futures Trading Commission in its disputes with states over prediction markets. The firm argues that federal law preempts state regulations on platforms like Kalshi and Polymarket. It claims state crackdowns undermine the CFTC's mandate for impartial market access.