Kalshi and Polymarket Donate $5 Million to Groups Linked to Both US Parties

^{Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour}

Prediction market platforms Kalshi and Polymarket, along with their founders, have donated at least $5 million to US political organisations ahead of November’s midterm elections. Reuters reported the contributions after reviewing campaign finance disclosures and payment records.

The elections will take place on November 3, 2026, with Americans voting for members of Congress, governors and state legislators.

Of the total, $2.7 million went to Republicans and the rest to Democrats.

The largest donations include:

• $1.3 million
  Polymarket and its CEO Shayne Coplan contributed to Republican organisations, including groups supporting congressional candidates and the Republican candidate for Ohio governor.
• $1 million
  Polymarket donated to House Majority Forward, an organisation supporting Democrats. The contribution had not been previously reported.
• Nearly $1.5 million
  Kalshi donated to state-level political organisations, splitting the money roughly equally between the two parties.

The donations come amid ongoing disputes over the regulation of prediction markets in the US. Authorities in several states argue that contracts on sporting events amount to gambling and that platforms must comply with state gambling laws.

Kalshi and Polymarket, however, maintain that their products are financial instruments and should be regulated at the federal level.

More than a third of the total went to organisations backing candidates for governor, state attorney general and state legislatures. These positions play a role in shaping how prediction markets are regulated at the state level.