Kalshi, Coinbase and Robinhood Form New Coalition for Regulated Prediction Markets
Kalshi and Crypto.com have brought together Coinbase, Robinhood, Underdog and other major operators to , a national alliance formed to secure transparent, federally supervised access to prediction markets. The coalition emerges at a moment when prediction markets are viewing unprecedented growth, with millions of Americans using them to understand political, economic and cultural outcomes in real time.
The industry argues that this markets offer a clearer read on public expectations than traditional polling and are increasingly used by younger demographics and historically underrepresented groups. As trading volume surges, companies in the space warn that fragmented state interpretations — especially efforts to classify prediction markets as gambling—risk creating confusion and driving users toward unregulated alternatives.
A Unified Industry Voice for Federal Oversight
In outlining why the coalition was formed now, Matt David, Executive Board Member of the CPM and Crypto.com’s President of North America, said the U.S. remains the most critical environment for the industry:
“The U.S. is the largegest frontier for prediction markets, and the momentum we’re viewing makes a unified industry voice not just significant, but necessary,” he said, describing prediction markets as “a new layer of civic infrastructure” that assists people and institutions make sense of rapidly changing events.
He added that prediction markets “reward what people know, not who they know,” and said the coalition will push for responsible, transparent growth to ensure the benefits reach a broader public.
Sara Slane, head of corporate development at and an executive board member of the CPM, highlighted the industry’s longstanding engagement with federal regulators, noting that prediction markets must “operate with strong federal secureguards that prevent insider trading, protect consumers, and ensure these markets remain transparent and corruption-free.”
The CPM’s ahead priorities include reinforcing the federal framework that already governs prediction markets, establishing nationwide standards for transparency and market integrity, and pushing back against state-level overreach across areas such as sports, elections and economic indicators.
Major platforms have also emphasized the broader role prediction markets can play in opening access to financial tools. Faryar Shizad, Chief Policy Officer at , said the company’s involvement aligns with its mission to “deliver financial freedom to the world,” adding that prediction markets “democratize fact-finding” and must remain accessible to the public.
As the regulatory landscape continues to shift, the formation of the Coalition for Prediction Markets marks a coordinated effort by industry leaders to shape the future of a quick-growing informational and financial tool — one that viewks to balance innovation, federal oversight and consumer protection.
