Kalshi has at least one lobbyist registered in 41 states, almost all hired since April.
The hit
Kalshi, Polymarket & the Coalition for Prediction Markets have spent at least $3m on lobbying & campaign contributions in 2026, according to Truthout. Kalshi alone gave $147,500 to the Republican Attorneys General Association & $170,000 to the Democratic equivalent in the first half of the year, while insisting prediction markets should be regulated federally, not by the states whose top lawyers it is funding.
Why it matters
State attorneys general are leading the regulatory fight against prediction markets, arguing CFTC rules should not preempt state gambling law, according to Truthout. Kalshi’s spending demonstrates a push to gain state-level influence, the outlet reports, & the company may be positioned to deal with a flood of new state laws if the Supreme Court rules prediction markets count as gambling.
The record
| Total lobbying & donations | At least $3m across Kalshi, Polymarket & the Coalition for Prediction Markets in 2026 (Truthout) |
|---|---|
| State AG letter | 44 state attorneys general told the CFTC in July prediction markets are a “new form of casino” |
| Kalshi federal lobbying | Nearly $1m spent through 30 June 2026, including $240,000 to Miller Strategies |
| Kalshi New York spend | Over $400,000 projected through July 2027 across two firms & in-house lobbyist Blake Bee |
| Kalshi California spend | $62,000 on lobbying in the first half of 2026, per disclosure reports |
| Governors associations | $100,000 to Republican & $150,000 to Democratic governors groups |
What happens next
Watch for the Supreme Court to weigh in after federal courts split on whether state gambling law applies to prediction markets, a ruling that would decide whose rules Kalshi must follow.
Sources: Kalshi Is Lobbying States to Fight Off Regulations for Prediction Markets
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