FairPredicts, a newly formed self-described nonpartisan calling itself a prediction market “watchdog,” is running a six-figure digital and billboard ad campaign in Washington, D.C., timed to a Senate Commerce Committee hearing Wednesday on gambling and prediction market expansion.
FairPredicts has specifically targeted Kalshi, one of the sector’s largest players. According to an NBC News report published Monday, Kalshi spent nearly $500,000 lobbying Congress and the Commodity Futures Trading Commission in 2026 alone.
The NBC News report also stated Kalshi pushed back, with spokeswoman Elizabeth Diana calling it a “casino-led effort.”
The hearing marks the latest flashpoint in a broader debate over whether prediction markets should face the same institutional oversight requirements as traditional financial exchanges.
Insider Trading Fears Rattle Prediction Markets
The scrutiny is not new. Kalshi has faced mounting criticism over alleged insider trading on its platform, prompting CEO Tarek Mansour to unveil “Poirot” in February, a proprietary surveillance system modeled after monitoring tools used by the New York Stock Exchange and Nasdaq. …
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