Kalshi and Crypto.com have joined forces to establish the Coalition for Prediction Markets, an alliance of prediction market operators in the United States that also includes Coinbase, Robinhood and Underdog.
The coalition is dedicated to preserving “safe, transparent, and federally supervised access to prediction markets”, with its early work focussing on reinforcing the federal framework governing prediction markets.
The coalition will defend against what it describes as state-level overreach, including issues tied to sports, elections, and financial and economic indicators, and advance “clear, consistent standards for integrity and transparency.”
It will be led by executive board members Matt David (Crypto.com) and Sara Slane (Kalshi).
“The US is the biggest frontier for prediction markets, and the momentum we’re seeing makes a unified industry voice not just important, but necessary,” said David, who also serves as president of North America and chief corporate affairs officer at Crypto.com. “Prediction markets are a new layer of civic infrastructure – public-good technology that gives people clearer insight and helps institutions make better decisions.
“They democratize financial participation by rewarding what people know, not who they know. As consumer interest accelerates and regulation evolves, this coalition will champion responsible, transparent growth to ensure the benefits of prediction markets reach the broader public.”
The launch of the coalition follows recent efforts by state gambling regulators to outlaw sports event contracts offered by prediction markets, which the regulators see as a breach of states’ gambling laws. The coalition argues that this “creates confusion, restricts consumer access, and pushes Americans toward offshore or unregulated platforms.”
“Allowing disparate state regimes to govern prediction markets undermines the very guardrails that keep markets fair and prevent insider advantage, reinforcing the perception that financial systems are rigged in favor of those with influence,” said the coalition. “Having CFTC oversight ensures consistent monitoring, similar to the stock market’s protections and surveillance systems.”
Slane, who serves as Kalshi’s head of corporate development, commented: “From day one, we wanted to be regulated. We spent years working with the CFTC because prediction markets must operate with strong federal safeguards that prevent insider trading, protect consumers, and ensure these markets remain transparent and corruption-free.
“Americans deserve clarity, not 50 conflicting interpretations. As the first federally regulated prediction market, Kalshi saw firsthand how quickly this space was growing – and how urgently a unified industry voice was needed to advocate for access and consistency nationwide.”
Coinbase chief policy officer Faryar Shizad added: “At Coinbase, our mission is to deliver financial freedom to the world – and prediction markets by nature democratize fact finding and the seeking of truth. We’re proud to join the Coalition for Prediction Markets – as they work with policymakers to ensure these markets develop and remain accessible to the American people.”