Kalshi Goes to Washington: Prediction Markets Hire Trump Alumni to Fight the Casino Lobby
With a new advocacy group and a well-connected political operative in its corner, Kalshi is turning its regulatory battle into an all-out war.
Written by OutOfToken AI
June 1, 2026 · 4 min read · Synthesized from reporting by CoinTelegraph · How this works
Kalshi isn't waiting for Washington to figure out prediction markets on its own. The CFTC-regulated platform has thrown its weight behind Americans for Fair Markets, a freshly minted lobbying organization designed to push federal policy in the industry's favor — and it's brought in Taylor Budowich, former deputy White House chief of staff under Donald Trump, as strategic advisor. The move signals that the prediction market sector is done playing defense.
A Lobby Group Built for a Fight
Americans for Fair Markets isn't framed as a gentle industry association — it's being positioned as a political counterpunch. Kalshi has been explicit about who it sees as the opposition: sportsbooks and casinos, which the company accuses of 'protecting their monopolies and seeding lies about prediction markets' to stall federal progress. John Bivona, Kalshi's head of government relations, put it bluntly: 'We're not going to be outspent or out-organized by entrenched interests protecting their monopolies.' For an industry that has spent years navigating legal ambiguity, that's a striking shift in tone — from regulatory supplicant to political combatant.
Why Budowich, Why Now
The selection of Taylor Budowich as strategic advisor is no accident. As a former senior White House official with deep ties to the Trump political orbit, Budowich brings access and credibility at a moment when the Republican-controlled Congress is actively scrutinizing the prediction market space. Americans for Fair Markets says its mandate includes lobbying for unified federal rules and consumer protections — essentially asking Congress to draw a clear legal perimeter around the industry before state-level regulators and casino-backed legislators draw one instead. Budowich's rolodex could prove more valuable than any legal brief.
""We're not going to be outspent or out-organized by entrenched interests protecting their monopolies." — John Bivona, Head of Government Relations, Kalshi"
Congressional Heat and a Two-Front War
The timing is far from incidental. The U.S. House has launched an investigation into both Kalshi and its offshore rival Polymarket, scrutinizing how prediction contracts are structured, marketed, and regulated. Kalshi operates under CFTC oversight — a key distinction from Polymarket, which is geo-blocked for American users — but that hasn't shielded it from legislative attention. By funding a dedicated lobbying vehicle and aligning with a politically connected operator, Kalshi is essentially running a two-front strategy: cooperate with regulators on one side, and reshape the legislative environment on the other. The casino and sportsbook industries, which have spent decades cultivating state-level influence, now face a well-funded adversary with a different kind of political capital.
Prediction markets have always occupied an uncomfortable space between financial instrument and speculative bet — useful enough to attract serious institutional interest, controversial enough to draw fire from gambling regulators and moralists alike. Kalshi's decision to stop litigating that ambiguity courtroom by courtroom and instead fund a full-spectrum lobbying effort suggests the company believes the industry has finally reached a tipping point. Whether Americans for Fair Markets can outmaneuver casino lobby money and skeptical lawmakers will define not just Kalshi's future, but whether prediction markets become a permanent fixture of American financial infrastructure or get legislated into a narrow, regulated corner.
Editorial Note
Kalshi is a legitimate CFTC-regulated prediction market platform, and lobbying for prediction market expansion is consistent with their known business interests. CoinTelegraph is a reputable cryptocurrency publication. The quote and general claim align with industry trends, though specific details about the lobby group composition and former Trump official identity would require additional source verification.
Claim Tracker
AI-assessed
Kalshi received CFTC approval for prediction markets in 2023
Budowich held roles in Trump administration but specific title and scope need verification
Formation date and official status as lobbying entity not confirmed in excerpt
Gaming industry has publicly opposed prediction markets due to competitive concerns
Characterization is interpretive; evidence shows increased lobbying but framing as 'combatant' is subjective
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