Prediction Markets Coalition Spends $50,000 Lobbying California as State Pressure Mounts
Updated
Updated · Sportico · Aug 25
Prediction Markets Coalition Spends $50,000 Lobbying California as State Pressure Mounts
2 articles · Updated · Sportico · Aug 25
Summary
$50,000 in California lobbying from April to July put the Coalition for Prediction Markets before the offices of Attorney General Rob Bonta and Governor Gavin Newsom, according to state disclosures.
The push comes as prediction-market firms face lawsuits from state attorneys general and tribal groups, proposed congressional limits, and court rulings that have already forced temporary product restrictions in Michigan, Nevada and Washington.
$100,000 more went to federal lobbying in the second quarter through Invariant, which said it was educating policymakers on event contracts and monitoring regulatory proposals; a spin-off, Determinant, will handle future work.
The coalition's members — including Kalshi, Crypto.com, Coinbase, Robinhood and Underdog — are adding this effort to their own campaigns, though member contributions to the group were not disclosed.
Kalshi still far outspends the coalition, with more than $1.7 million in federal lobbying in the first half of 2026, while casino and sportsbook groups opposing prediction markets are collectively on pace to top $50 million this year.