BlockBeats News, May 23rd, Americans for Fair Markets (AFM), a Kalshi-backed prediction market advocacy organization, was officially established, with former White House Deputy Chief of Staff Taylor Budowich serving as the organization's Strategic Advisor.

AFM stated that it will advocate for a federal-level regulatory framework for prediction markets and oppose traditional gambling and related interest groups' restrictions on the prediction market industry. John Bivona, Kalshi's Head of Government Relations, stated: "Millions of Americans have already indicated that they want a regulated, open, and fair prediction market."

As the prediction market industry rapidly grows, disputes over regulatory authority between U.S. federal and state regulatory agencies continue to escalate. Meanwhile, the U.S. Congress has recently launched an insider trading investigation into Kalshi and Polymarket. AFM stated that it will support a ban on insider trading and oppose markets associated with war, terrorism, death, or assassination.