AUDIO – BET YOU DIDN’T KNOW THIS –
June 4, 2026 – If you believe the multibillion-dollar firms behind “prediction markets” and the individuals who are handsomely paid to promote them, two things are absolutely clear: These exchanges are not gambling, and they certainly don’t prey upon young or vulnerable people. But many lawmakers, as you might suspect, don’t seem convinced. Undeterred, the industry has been furiously adding to its roster of lobbyists and advocates over the past year, hoping to build on the Trump administration’s support, which is no doubt founded partially on Donald Trump Jr.’s positions at both Kalshi and Polymarket. But support from the administration and the first family does not seem to be enough, and the prediction market industry has been mobilizing an effort to ensure incipient attempts to rein in the industry die in the cradle. Key to these efforts are prediction market advocates who cut their teeth working on behalf of addictive industries in the past.
