TLDR Kalshi spent $990,000 on direct lobbying in the first half of 2026, pushing its total federal advocacy costs near $1.8 million. The American Gaming Association spent $1.39 million lobbying against prediction markets so far this year. Polymarket spent far less than Kalshi, reporting $180,000 in lobbying costs during the same period. Lawmakers are raising concerns after insider trading questions tied to political and military event contracts. The Commodity Futures Trading Commission is reviewing a proposed rule on prediction markets and taking public comments.
Kalshi and Polymarket are spending more money to influence lawmakers in Washington. The fight is over how prediction markets should be regulated going forward.
New federal disclosures show Kalshi spent $990,000 on lobbying during the first half of 2026. That already tops what the company spent during all of 2025.
When outside lobbying firms are included, Kalshi’s total federal spending climbs close to $1.8 million for the six-month period. The company now works with seven lobbying operations, including an in-house government affairs team.
The gaming industry is spending heavily too. The American Gaming Association spent $1.39 million on lobbying so far this year.
Including outside firms, the group’s advocacy costs are close to $1.8 million. That figure is about 30% higher than the same period last year.
Cherokee Nation, which operates casinos, also increased its lobbying activity. The tribe reported spending $600,000 during the first half of the year.
Polymarket Spends Far Less Than Rival
Polymarket spent much less than Kalshi. One lobbying firm working on the company’s behalf reported $180,000 in spending during the first six months of 2026.
That puts Polymarket on track to roughly match its 2025 total of about $360,000. The company relies on far fewer lobbying resources than Kalshi does.
The spending increase comes as prediction markets face