Congress Considers Bills Targeting Campaign Fund Use in Prediction Markets
Lawmakers have introduced more than a dozen bills this year addressing prediction market platforms. One measure under preparation would bar the use of campaign funds for betting on such platforms.
dailyexcelsior.comMore than a dozen bills addressing prediction markets have been introduced in Congress this year. One measure under preparation would criminalize the use of campaign funds to bet on platforms such as Kalshi and Polymarket.
None of the bills has advanced significantly.
The cumulative regulatory activity has created uncertainty for Robinhood Markets, whose event contract revenue has grown rapidly.
Robinhood reported $147 million in event contract revenue in the first quarter, up 320 percent from the same period last year. Customers traded a record 8.8 billion contracts through its Kalshi-powered hub during the quarter. Robinhood and Kalshi split a two-cent fee per contract, and Robinhood has historically accounted for half of Kalshi's total volume.
Key Facts
Story Timeline
2 events- Tuesday
Axios reported on a new bill targeting campaign fund use in prediction markets.
1 sourceBenzinga - First quarter
Robinhood reported $147 million in event contract revenue, up 320 percent year-over-year.
1 sourceBenzinga
Potential Impact
- 01
Robinhood's event contract revenue could face regulatory uncertainty.
- 02
Kalshi may see reduced trading volume if new restrictions take effect.
Transparency Panel
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