Kalshi and American Gaming Association Increase Lobbying Expenditures in First Half of 2026
Written by Alex Beck · Jul 28, 2026
Kalshi and American Gaming Association Increase Lobbying Expenditures in First Half of 2026
Kalshi reported direct lobbying expenditures of $990,000 during the first half of 2026, a sum that nearly doubled the company's full-year 2025 total of $1 million, while combined spending with outside firms reached nearly $1.8 million. The American Gaming Association recorded direct outlays of $1.39 million over the same six-month period, an amount that rose 30 percent from the prior year, and total spending including external firms also approached $1.8 million. These figures emerged from quarterly disclosure filings submitted in July 2026 and reflect intensified activity on Capitol Hill and before federal agencies.
Context of Heightened Scrutiny
Congressional committees and regulatory bodies have directed attention toward prediction market platforms and their potential overlap with sports betting operations. Lawmakers have examined questions involving insider trading risks, the permissibility of contracts tied to sporting events, and the broader regulatory boundary between event contracts and traditional wagering. Kalshi, which operates a prediction market platform, and the American Gaming Association, which represents casino and gaming interests, have each directed resources toward these policy discussions.
Details of Kalshi's Spending
Direct payments by Kalshi accounted for $990,000 in the first half of 2026, surpassing the company's entire 2025 annual total. When expenditures through outside lobbying firms are added, the combined figure reached nearly $1.8 million. The increase occurred as federal agencies reviewed the status of certain event contracts and as legislative proposals addressing market oversight advanced through committee processes.
American Gaming Association Activity
The American Gaming Association reported direct lobbying costs of $1.39 million for the same period, representing a 30 percent rise compared with the first half of 2025. Inclusion of payments to external firms brought the total near $1.8 million. Association representatives have focused on issues related to the expansion of prediction markets and the regulatory treatment of sports-related contracts.
Regulatory Environment in Mid-2026
By July 2026, multiple federal entities had opened or continued reviews of prediction market operations. Concerns centered on market integrity, participant access to non-public information, and the classification of contracts involving sports outcomes. Both Kalshi and the American Gaming Association have participated in these proceedings through filings, testimony, and direct engagement with lawmakers and agency staff.
Disclosure records indicate that spending patterns accelerated during the second quarter of 2026, coinciding with scheduled hearings and comment periods on proposed rules. The filings do not specify individual meetings or particular legislative vehicles but document the aggregate resources allocated to influence policy outcomes.
Comparison with Prior Periods
Kalshi's first-half 2026 direct spending exceeded its full-year 2025 figure by a substantial margin. The American Gaming Association's mid-year total already surpassed the prior year's corresponding period by 30 percent before additional outside expenditures were counted. These year-over-year changes reflect sustained engagement by both organizations on overlapping regulatory questions.
Conclusion
Disclosure filings submitted in July 2026 show that Kalshi and the American Gaming Association each increased lobbying expenditures during the first half of the year. Kalshi's direct outlays reached $990,000, while the American Gaming Association reported $1.39 million in direct spending, with combined totals for each entity approaching $1.8 million when outside firms are included. The activity took place against a backdrop of ongoing congressional and regulatory examination of prediction markets, insider trading considerations, and the relationship between event contracts and sports betting. Additional filings expected later in 2026 will provide further data on the trajectory of these expenditures.