Kalshi, a prediction betting site, has hired two former Biden administration officials and contributed nearly $1 million to federal candidates, with significant support for Democrats. This move comes as the company faces increasing scrutiny over its operations and seeks to establish bipartisan relationships amid regulatory developments. Kalshi's lobbying expenditures have surged, reflecting its efforts to influence policy in Washington as investigations into betting practices are anticipated.
Key facts
- Kalshi hired two former Biden officials as a policy adviser and lobbyist.
- The company has spent nearly $1 million on federal candidate donations in 2026.
- Over a third of donations, $377,000, went to Democratic candidates.
- Kalshi's lobbying spending reached $1.8 million in the first half of 2026.
- Democrats are calling for investigations into the use of prediction markets.
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