A powerful coalition of top crypto and fintech platforms is moving to lock in federal oversight for prediction markets, aiming to block state-level crackdowns while protecting access to a fast-growing market reshaping polling, trading, and civic insight.
Crypto and Fintech Titans Join Forces to Secure the Future of Prediction Markets
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Crypto and Fintech Giants Unite to Defend Federal Control of Prediction Markets
Major financial and crypto platforms have coordinated a new industry initiative. A federally focused alliance bringing together Kalshi, Crypto.com, Coinbase (Nasdaq: COIN), Robinhood (Nasdaq: HOOD), and Underdog has been formed to establish the Coalition for Prediction Markets, aimed at protecting access to prediction markets under a consistent federal framework.
Executive Board Member of the Coalition and President of North America and Chief Corporate Affairs Officer at Crypto.com Matt David stated in an announcement on Dec. 11:
The U.S. is the biggest frontier for prediction markets, and the momentum we’re seeing makes a unified industry voice not just important, but necessary.
He said prediction markets are “a new layer of civic infrastructure – public-good technology that gives people clearer insight and helps institutions make better decisions,” adding that the coalition will champion responsible and transparent growth as regulation evolves.
Industry data highlighted by the group shows prediction markets outperform traditional polling by roughly 30% and generated nearly $28 billion in combined trading volume through October, while public opinion research indicates most voters favor federal oversight rather than a state-by-state regulatory patchwork.
Read more: Gemini Titan Enters US Prediction Markets With Yes-or-No Event Contracts
The coalition is organizing amid heightened attention from some state casino regulators seeking to expand authority into prediction markets, a space historically overseen at the federal level.
Head of Corporate Development at Kalshi and Executive Board Member of the Coalition Sara Slane said, “From day one, we wanted to be regulated,” citing years of engagement with the Commodity Futures Trading Commission to build safeguards against insider trading, manipulation, and consumer harm. She said Americans deserve clarity instead of “50 conflicting interpretations.”
Coinbase Chief Policy Officer Faryar Shirzad said:
At Coinbase, our mission is to deliver financial freedom to the world – and prediction markets by nature democratize fact finding and the seeking of truth.
The coalition’s initial priorities include reinforcing federal standards, resisting state-level overreach tied to sports, elections, and economic indicators, and promoting uniform integrity rules to keep prediction markets transparent, accessible, and consistently supervised nationwide.
FAQ ⏰
- What is the coalition for prediction markets?
It is a new alliance of major crypto and fintech firms formed to protect prediction markets under federal regulation. - Which companies are part of the coalition?
Members include Kalshi, Crypto.com, Coinbase, Robinhood, and Underdog. - Why does the coalition oppose state-level regulation?
The group argues that prediction markets require consistent federal oversight instead of fragmented state rules. - How large is the prediction markets industry?
Industry data cited by the coalition shows nearly $28 billion in combined trading volume through October.
