Kalshi spends $990,000 on lobbying as prediction market fight widens

Summary

Kalshi reported spending $990,000 directly on federal lobbying in the first half of 2026, with total advocacy costs near $1.8m including outside firms. The American Gaming Association spent $1.39m on lobbying in the period, with total costs approaching $1.8m, about 30% higher year on year, while Cherokee Nation reported $600,000. Polymarket's single lobbying firm reported $180,000, and Kalshi now relies on seven lobbying operations.