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Kalshi is expanding its presence in Washington as lawmakers and federal regulators debate the future of U.S. prediction markets. New federal lobbying disclosures show the company has retained another prominent lobbying firm, reinforcing its effort to influence the regulatory framework governing event contracts.
The latest filing shows Kalshi hired Squire Patton Boggs, bringing its total to six outside lobbying firms. The move comes as the Commodity Futures Trading Commission (CFTC) advances proposed rules for prediction markets and Congress considers legislation that could reshape how event contracts are regulated.
Kalshi grows its Washington lobbying team
Lobbying disclosures signed July 13 show Kalshi retained Squire Patton Boggs to advocate on issues involving commodities and financial institutions.
The filing reports $110,000 in second-quarter lobbying income for the engagement, adding to an already sizable federal lobbying operation.
Squire Patton Boggs joins:
- Lincoln Policy Group
- Miller Strategies LLC
- Intersection Government Relations LLC
- Dow Solutions Inc.
- Resolution Public Affairs LLC
Earlier filings show that Intersection Government Relations received $45,000 in the second quarter, while Resolution Public Affairs received $60,000 in the first quarter of 2026. According to a report by Legis1, together, the disclosures illustrate Kalshi’s growing investment in influencing federal policy as regulatory scrutiny intensifies.
CFTC rulemaking remains the industry’s biggest question
Kalshi’s latest lobbying move comes weeks after the CFTC published its Notice of Proposed Rulemaking on prediction markets.
The proposal, released June 12, could establish new standards for event contracts, including potential restrictions on certain sports-related markets.
Because sports contracts have become one of the industry’s fastest-growing products, the final rules could significantly affect Kalshi and other prediction market operators. As regulators collect public comments, companies are increasingly working to ensure their positions are represented during the rulemaking process.
Congress weighs additional prediction market safeguards
Congress is also considering several bills aimed at expanding oversight of prediction markets.
The Public Integrity in Financial Prediction Markets Act (H.R. 7004) would prohibit federal officials and employees from trading political prediction markets while possessing material nonpublic information.
Meanwhile, the bipartisan Prediction Market Act of 2026 would prohibit members of Congress, the president, vice president and senior executive branch officials from trading on prediction markets while creating a dedicated CFTC office focused on retail investor protections.
Another proposal, the BETS OFF Act, would prohibit contracts tied to war, terrorism, assassinations and certain government actions.
None of the proposals has become law, but together they reflect growing bipartisan interest in establishing guardrails as the industry expands.
Legal challenges continue beyond Washington
Kalshi’s federal lobbying effort comes as it continues defending its business model against state regulators.
One of the highest-profile disputes remains in Nevada, where the Nevada Gaming Control Board argues the company’s sports-related event contracts constitute unlicensed gambling under state law.
The litigation has become part of a broader debate over whether prediction markets should be regulated primarily by the CFTC or by individual states. The outcome could shape how event contracts are offered nationwide.
Why the lobbying campaign matters
Kalshi’s decision to add another lobbying firm reflects more than routine government relations. It signals the company believes the industry’s future will be shaped not only through litigation but also through federal rulemaking and congressional action.
With the CFTC rewriting the regulatory framework and lawmakers considering new restrictions, the coming months could determine what products prediction market platforms can offer, who may participate and what consumer protections ultimately apply. Kalshi’s expanding lobbying footprint suggests the company intends to have a voice in each of those decisions.
