Industry Leaders Launch The Coalition for Prediction Markets to Promote Fair, Safe, and Open Access
Kalshi, Crypto.com, Robinhood, Coinbase and Underdog join forces
Kalshi and Crypto.com announced they have convened a broad alliance of industry leaders – including Coinbase, Robinhood, and Underdog – to form the Coalition for Prediction Markets (CPM), a new national organization dedicated to preserving safe, transparent, and federally supervised access to prediction markets. Prediction Markets have quickly become one of the most accurate and accessible tools the public has, both to capitalize on their knowledge and also to understand shifting economic, cultural, and political trends.
Prediction markets are rapidly becoming a mainstream tool for understanding real-world events: nearly half of Americans under 45 have already used an online financial or prediction market. As the volume of public information increases, prediction markets cut through the noise by aggregating real-time expectations into a single, transparent signal, accessible to anyone. They also allow people to make money on their expertise, creating a new generation of investors. This democratization of market participation benefits everyone, especially young people, women, and communities of color who have historically been excluded from traditional financial systems.
Prediction markets have repeatedly shown they outperform traditional polling by roughly 30%, offering real-time public insight into everything from economic indicators to cultural events. With usage growing and the combined trading volume of prediction markets this year reaching nearly $28 billion through October, there has never been a more critical moment for unified engagement. At the same time, more than 70% of voters agree that prediction markets should not be regulated like gambling, and two-thirds of Americans prefer federal oversight over a state-level patchwork.
“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,” said Matt David, Executive Board Member of the Coalition and President of North America & Chief Corporate Affairs Officer at Crypto.com. “Prediction markets are a new layer of civic infrastructure – public-good technology that gives people clearer insight and helps institutions make better decisions. They democratize financial participation by rewarding what people know, not who they know. As consumer interest accelerates and regulation evolves, this coalition will champion responsible, transparent growth to ensure the benefits of prediction markets reach the broader public.”
The coalition launches as several state casino regulators attempt to extend their authority into a space long governed under federal law — a shift that creates confusion, restricts consumer access, and pushes Americans toward offshore or unregulated platforms. Allowing disparate state regimes to govern prediction markets undermines the very guardrails that keep markets fair and prevent insider advantage, reinforcing the perception that financial systems are rigged in favor of those with influence. Having CFTC oversight ensures consistent monitoring, similar to the stock market’s protections and surveillance systems.
“From day one, we wanted to be regulated. We spent years working with the CFTC because prediction markets must operate with strong federal safeguards that prevent insider trading, protect consumers, and ensure these markets remain transparent and corruption-free,” said Sara Slane, Executive Board Member of the Coalition and Head of Corporate Development at Kalshi. “Americans deserve clarity, not 50 conflicting interpretations. As the first federally regulated prediction market, Kalshi saw firsthand how quickly this space was growing – and how urgently a unified industry voice was needed to advocate for access and consistency nationwide.”
The Coalition’s early work will focus on reinforcing the federal framework governing prediction markets. Central to this work is establishing and educating on nationwide standards for integrity – guardrails that prevent insider trading and ensure all participants operate on equal footing. The coalition will defend against state-level overreach, including issues tied to sports, elections, and financial and economic indicators, and advance clear, consistent standards for integrity and transparency.
“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,” said Faryar Shizad, Chief Policy Officer at Coinbase. “We’re proud to join the Coalition for Prediction Markets – as they work with policymakers to ensure these markets develop and remain accessible to the American people.”
