New US lobbying group for prediction markets launches with ex-White House official

A new lobbying group, Americans for Fair Markets, has launched in the U.S. to advocate for prediction market platforms ahead of the midterm elections. The group is supported by prediction market platform Kalshi and has brought on Taylor Budowich, a former White House Deputy Chief of Staff for Communications and Cabinet Affairs, as a strategic advisor. The organization aims to counter what it describes as market monopolization attempts and the spread of misinformation by existing sports betting and casino interest groups. Americans for Fair Markets plans to collaborate with the existing Coalition for Prediction Markets, which includes members like Robinhood and Coinbase, on comprehensive legislative and regulatory defense efforts.