Kalshi backs Senate bill to tighten its own prediction market rules

A major prediction market is backing stricter federal rules for its own industry instead of fighting them. Kalshi threw support behind the Gillibrand-McCormick bill even while disagreeing with parts, pushing for clearer CFTC oversight, fair-trading rules, and transparency as these markets move into the mainstream.

The bill would ban members of Congress and certain executive-branch officials from trading on prediction platforms, effectively turning platform-level policies into law. Kalshi already says it blocks lawmakers and polices insider trading, and is framing the space as a $500B asset class, with its own April volume at $14.81B, up 13.3% month over month.