Kalshi, Crypto.com, Coinbase and Robinhood Unite to Launch Coalition for Prediction Markets

A group of major fintech and trading platforms — Kalshi, Crypto.com, Coinbase, Robinhood, and Underdog — have come together to launch the Coalition for Prediction Markets (CPM), a nationwide initiative focused on protecting fair, transparent, and federally supervised access to prediction markets.

“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.”
— Sara Slane, Executive Board Member of the Coalition and Head of Corporate Development at Kalshi

The coalition aims to establish consistent regulatory foundations at a time when usage of prediction markets is accelerating and several state casino regulators are attempting to assert oversight in areas historically governed at the federal level.

“The U.S. is the biggest frontier for prediction markets, and the momentum we're seeing makes a unified industry voice not just important, but necessary. 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.”
— Matt David, Executive Board Member of the Coalition and President of North America & Chief Corporate Affairs Officer at Crypto.com

Prediction markets have become a widely used forecasting tool: nearly half of Americans under 45 have already engaged with online prediction or financial markets. Their appeal stems from the ability to aggregate real-time expectations into a single, transparent signal — helping participants interpret complex economic, political, and cultural shifts while enabling users to profit from their knowledge.

With $28 billion in trading volume year-to-date through October, adoption continues to rise, and studies show prediction markets outperform traditional polling by roughly 30%. Public sentiment is also solidly in their favour: more than 70% of voters say prediction markets should not be regulated like gambling, and two-thirds of Americans prefer federal oversight to a fragmented patchwork of state rules.

The coalition warns that expanding state-level gaming interpretations into this domain risks confusing consumers, undermining market integrity, and pushing users into offshore platforms. They argue that CFTC oversight, mirroring the surveillance and compliance standards used in securities markets, is essential for preventing insider trading, ensuring transparency, and keeping access broadly available.

The CPM's initial mandate will focus on reinforcing the federal regulatory framework, establishing national integrity standards, and countering state-level overreach across areas such as sports, elections, and economic indicators.

The creation of the CPM follows years of engagement between Kalshi and the CFTC to create the first federally regulated prediction market. With rising participation across retail and institutional audiences, the coalition sees a timely need for coordinated advocacy, consistent rules, and education.

See more info here: https://www.coalitionforpredictionmarkets.com/