Kalshi expands Washington office to shape prediction market regulation
In brief
- Kalshi controls 89-90% of the US prediction market; opened Washington office January 2026.
- Hired John Bivona (former Biden advisor) as head of government relations and Stephanie Cutter (ex-Obama aide) as policy advisor.
- Kalshi spent $615,000 on federal lobbying in 2025; Kalshi and Polymarket combined spent nearly $1 million.
Building Political Capital
John Bivona, a former advisor to the Biden administration, was brought on as head of government relations. In April 2026, Kalshi added Stephanie Cutter, a former Obama aide, as its policy advisor. The hiring spree spans policy, communications, and government relations—a signal that Kalshi intends to shape regulatory outcomes before they're finalized.
Kalshi's D.C. push isn't happening in isolation. Kalshi and Polymarket combined spent nearly $1 million on federal lobbying in 2025. On its own, Kalshi spent $615,000 on federal lobbying in 2025 alone. That capital deployment reflects an existential stakes: prediction markets sit in an awkward regulatory gray zone. The CFTC has jurisdiction over event contracts, but debates persist about federal versus state-level oversight.
The Regulatory Crossroads
With 89-90% market share in the US, whatever regulatory framework emerges will essentially be built around Kalshi's business. The company knows this. It's also aware that the industry faces mounting pressure. Growing concerns exist about potential insider trading on prediction market platforms—a risk that regulators and lawmakers have begun scrutinizing more closely.
Other players are mobilizing too. The Coalition for Prediction Markets, a group that includes Crypto.com, Coinbase, Robinhood, and Underdog, hired Invariant, a Democratic lobbying firm, on April 1, 2026. Their specific mandate: lobby for event contracts regulation that works in the industry's favor.
What emerges from these efforts will define the prediction market landscape for years. Kalshi's dominance gives it outsized influence in those conversations—a fact the company is now making explicit by staking its presence in Washington.
