Prediction Markets and Casinos Are Both Betting Big on Washington

What happened

Kalshi spent $990,000 on federal lobbying in the first half of 2026, almost matching its total lobbying spend for all of 2025, as it competes with the casino industry for influence on Capitol Hill.

Confirmed

Global impact / market context

The high lobbying spend shows Kalshi is trying to shape regulations that could affect how prediction markets operate, while the casino industry is doing the same, potentially impacting the legal landscape for both sectors.

Analyst inference

Both prediction‑market firms and traditional gambling groups are increasing political spending, indicating a broader battle over future U.S. betting rules that could affect market access, product offerings, and investor sentiment.

Analyst inference

What to watch

1. Any new legislation or regulatory proposals targeting online prediction markets, which could change how companies like Kalshi design their platforms. Proposed
2. Responses from the American Gaming Association, as its lobbying budget may rise to counter Kalshi’s efforts, influencing the overall policy debate. Proposed
3. Investor reactions to the lobbying race, especially if lawmakers signal support for one model over the other, affecting stock valuations of related firms. Analyst inference

Evidence

• beincrypto.com