Kalshi, Crypto.com and Robinhood Form Coalition to Protect Prediction Markets in the U.S.

According to Axios, leading prediction platforms are launching a new industry group — the Coalition for Prediction Markets. The coalition will include Kalshi, Crypto.com, Robinhood, Coinbase, Underdog and other companies operating in the prediction-market space. The initiative comes amid escalating disputes over sports-related prediction products and efforts by some U.S. states to classify them as gambling.

Axios reports that coalition members aim to push for a stable federal regulatory framework.

Prediction markets currently operate under the oversight of the CFTC, but authorities in several states interpret sports-based contracts as gambling products. This has created a situation in which the same product is permitted at the federal level but faces restrictions at the state level. The most prominent example is Massachusetts, where regulators are attempting to block Kalshi’s operations.

The companies forming the coalition intend to secure unified rules nationwide and prevent prediction markets from being swept under gambling legislation due to actions taken by individual states.

Axios also notes that Polymarket’s participation remains uncertain. The platform is interested in advocating for a federal model but has not yet made a formal decision on joining the coalition.

Earlier, Gambling Park reported on the conflict between prediction platforms and certain state authorities. In October, Kalshi filed a lawsuit against New York’s gambling regulator over alleged unlawful interference in its operations.