Crypto.com, Kalshi launch industry coalition as state challenges mount
Crypto.com and prediction market operator Kalshi on Thursday launched the Coalition for Prediction Markets (CPM), a new industry group aimed at defending federal oversight of the fast-growing sector amid a wave of state-level legal challenges.
The coalition’s founding members include Coinbase, Robinhood and Underdog. The group said it will advocate for “safe, transparent, and federally supervised access to prediction markets,” noting that nearly half of Americans under 45 have used online prediction platforms.
CPM said the rise of conflicting state rules “undermines the very guardrails that keep markets fair and prevent insider advantage,” and risks splintering an industry currently regulated by the U.S. Commodity…
