News Summary

• Kalshi, Polymarket and the Coalition for Prediction Markets spent at least $3 million on lobbying and political contributions in 2026.
• The companies and state officials fight over who can regulate prediction markets.
• The platforms say their contracts fall under federal oversight, while states argue they are gambling products governed by state law.
• Kalshi had at least one registered lobbyist in 41 states as of September, with nearly all hired since April.
• The dispute is moving through federal courts, but the reporting does not identify a filed Supreme Court petition or scheduled hearing.