[Bloomberg: Prediction Markets Ramp Up Lobbying Efforts to Block New U.S. Regulations] According to Bloomberg, the prediction market industry is ramping up lobbying efforts in Washington to counter increasing regulatory pressure. Companies like Kalshi are hiring lobbying teams to address potential crackdowns by Congress on the industry. In the first quarter of 2026, the industry's lobbying expenditures reached at least $1.84 million, a record high and an increase of over 60% year-on-year. Kalshi has newly registered two lobbying firms and hired former Obama advisor Stephanie Cutter to expand its influence within the Democratic Party. Lawmakers have introduced more than a dozen bills, with some Democrats and Republicans seeking to place prediction markets under the same regulatory framework as gambling. The industry, however, argues that it should continue to be governed by the Commodity Exchange Act. President's son Donald Trump Jr. is both an investor in Polymarket and a strategic advisor to Kalshi.