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Kalshi, Polymarket and the Coalition for Prediction Markets spent at least $3 million on lobbying and campaign contributions in 2026, according to a new report, as the industry’s fight over who regulates prediction markets keeps widening.
At the center of the dispute is a high-stakes legal question: whether event contracts are mainly governed by federal commodities law through the Commodity Futures Trading Commission, or by state gambling law. That matters for states including Florida, where any future enforcement or policy response could turn on how that jurisdictional fight is resolved.
Kalshi built a lobbying network across 41 states
The report says Kalshi had at least one registered lobbyist in 41 states as of September 2026, with nearly all of those hires made since April. In California alone, the company spent $62,000 on lobbying in the first half of the year, including work tied to three assembly bills and outreach to the governor’s and attorney general’s offices on prediction markets.
In New York, Kalshi increased its monthly payment to Brown & Weinraub Advisors from $10,000 to $25,000 and agreed to pay the Mirram Group $25,000 per month through July 2027. Including in-house lobbyist Blake Bee, the company’s projected New York lobbying spend tops $400,000 through that date.
Kalshi also opened a Washington, D.C., office in January 2026 and spent nearly $1 million on federal lobbying through June 30. That included $240,000 paid to Miller Strategies and $120,000 to Lincoln Policy Group.
Political spending comes as states push back
The same report says Kalshi gave $147,500 to the Republican Attorneys General Association and $170,000 to the Democratic Attorneys General Association in the first half of 2026. It also gave $100,000 to the Republican Governors Association and $150,000 to the Democratic Governors Association.
Kalshi additionally donated to campaigns including Florida Attorney General James Utheimer, as well as Vermont Attorney General Charity Clark and Oregon Attorney General Dan Rayfield. A company spokesperson said Kalshi “supports candidates from both parties.”
State officials have been pushing back on the industry’s federal-regulation argument. In July, 44 state attorneys general signed a letter arguing that federal oversight should not displace state gambling authority.
What Florida readers should watch next
For Florida readers, the main takeaway is not a market launch or product change, but a rules fight that could shape who has authority over prediction markets going forward. The next key items to watch are the ongoing court battles, any further action from the CFTC or state attorneys general, and whether Congress advances legislation such as the Protect College Sports Act, which passed the Senate on October 5 and was awaiting House action at the time of the report.
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Source: As reported by gamingamerica.com.
