Kalshi Spent $1.2M for Lobbying Blitz
Kalshi, a prediction market platform, has spent $1.19 million on federal lobbying to secure its foothold in the U.S., per OpenSecrets.

Heavy Lobbying to Shape Federal Rules
Kalshi shelled out $1.19 million on federal lobbying since 1998, with over $1 million in the last five years. The peak was 2024, when it spent $670,000, followed by $80,000 in 2025 so far. In 2024, Kalshi paid $380,000 to two firms: Miller Strategies, led by Jeff Miller with Trump White House ties, and Lincoln Policy Group, founded by ex-Senator Blanche Lincoln, who got $180,000.
In 2025, Kalshi stuck with Miller Strategies alone. Lincoln pushed the Commodity Futures Trading Commission (CFTC) to take full control of prediction markets, writing, “It is crucial that the CFTC make clear that all prediction markets fall entirely under its domain with no interference by states.” Kalshi wants CFTC rules to let it operate in all 50 states, avoiding state-by-state gambling regulations.
Fighting for Sports and Political Bets
Kalshi’s lobbying focuses on expanding into sports and political event contracts, arguing events like the Super Bowl boost ads, clothing sales, and hotels.
This stance clashes with Lincoln’s 2010 Senate comment that sports contracts are “solely for gambling” and lack commercial purpose. The shift has fueled criticism, especially since Kalshi faces lawsuits in New Jersey, Nevada, and Maryland.
Thirty-four states, over 60 tribal groups, and the American Gaming Association have filed against Kalshi’s sports markets, claiming they mimic betting.
A 2024 court ruling lifted election betting limits, helping Kalshi’s revenue grow, but the legal fights continue. Lincoln’s letter warned that banning prediction markets would be a “grave mistake,” urging the CFTC to resist pressure and keep markets open.
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