Bloomberg: Prediction Markets Ramp Up Lobbying in Washington Amid Tightening Regulatory Pressure

Odaily According to Bloomberg, as the U.S. Congress considers tightening regulations, the prediction market industry is intensifying its lobbying efforts in Washington to address criticism that it fuels the expansion of gambling and poses risks of potential insider trading.Leading platforms, represented by Kalshi, are joining forces with several crypto and sports betting companies involved in prediction markets to form lobbying teams. Their aim is to influence the legislative process and alleviate regulatory pressure. Industry insiders are concerned that regulatory actions targeting this multi-billion dollar industry may accelerate. (Bloomberg)