Kalshi launches Americans for Fair Markets to lobby Hill

On Friday, Kalshi launched Americans for Fair Markets (AFM), a well-capitalized advocacy group that will lobby Capitol Hill on issues tied to prediction markets. The organization named Taylor Budowich, a former senior White House communications aide and longtime Republican campaign operative, as a strategic advisor. A Kalshi spokesperson confirmed the group has other members, said its website uses Kalshi’s color scheme and declined to disclose funding totals.

AFM said it will press lawmakers and regulators on legislation related to innovation, market integrity and consumer protection while defending prediction markets against proposals to restrict or ban them. In a blog post, Kalshi wrote that AFM will “actively combat interests that are focused on protecting their monopolies and seeding lies.”

The launch coincided with new congressional scrutiny. House Oversight Committee Chair James Comer opened investigations into suspected insider trading on Polymarket and Kalshi, citing unusual wagers tied to potential military actions involving Venezuela and Iran that federal authorities have linked to arrests in the United States and Israel. Kalshi and other platforms have announced they strengthened safeguards in recent months.

AFM’s website warns that a ban or steep restrictions would push trading offshore and onto unregulated sites. The site states a ban would move markets “onto unregulated platforms with no identity verification, no consumer protections, no insider trading rules, and no cop on the beat.” Kalshi has emphasized its registration with the Commodity Futures Trading Commission as a regulated U.S. exchange.

Stakeholders offered differing views during recent congressional sessions. Bill Miller, president and CEO of the American Gaming Association, testified that prediction markets are presenting themselves as financial products while functioning like sports betting. Miller said, “These so-called prediction markets are deceptively calling sports betting financial contracts and investing.”

Legislative activity has moved in parallel. Representative Ritchie Torres and more than 30 House colleagues, including former House Speaker Nancy Pelosi, introduced the Public Integrity in Financial Prediction Markets Act of 2026 to bar federal elected officials and their staff from participating in prediction markets. Sponsors described the bill as aimed at preventing misuse of privileged information.

Polymarket operates a regulated U.S. platform as well, but a large share of its activity runs through an international site, a distinction drawing attention from lawmakers and regulators reviewing cross-border trading and enforcement. AFM’s launch places a politically connected operative at the center of Kalshi’s effort to influence Capitol Hill during ongoing probes and pending legislation.