A powerful coalition of top crypto and fintech platforms is moving to lock in federal oversight for prediction markets, aiming to block state-level crackdowns while protecting access to a fast-growing market reshaping polling, trading, and civic insight.
When Crypto Titans Coalition-Is It a Party or a Punchline?
A new alliance of financial bigwigs has formed a group, possibly in a Zoom room where someone asked, “Why not?” The Coincidence for Prediction Markets (seriously, name it something cooler) now includes Kalshi, Crypto.com, Coinbase (Nasdaq: COIN), Robinhood (Nasdaq: HOOD), and Underdog. Translation: They’re all fighting state regulations so hard they might as well have painted a target on who? Ya’ll.
Executive Board Member Matt David from Crypto.com declared on Dec. 11, while probably sipping a kale latte:
“The U.S. is the biggest frontier for prediction markets,” he gasped. “We’re seeing momentum-so now it’s not a question, it’s a necessity.”
Allow me to paraphrase that as: “Democracy is broken, so let’s monetize confusion while also calling it ‘civic infrastructure.’ Have a nice day!”
Per industry data (which is a fancy way of saying “trust us because this graph looked good in green”), prediction markets outperform polling by 30%, and have gone $28 billion in trading volume. I’mma go out on a limb and say this is the first time “betting on chaos” sounded like a “public good.”
Rumors of state casino regulators giving this space the side-eye are also apparently a red flag?❗️ Sara Slane from Kalshi said they’ve wanted to be regulated since, well, forever, citing “years of chats” with the Commodity Futures Trading Commission. Her words: “Folks deserve clarity. Not ‘50 interpretations.’” Translation: Please don’t ask if breaking laws is okay, Uncle Bob.
Coinbase’s Faryar Shirzad joined in, declaring:
“Prediction markets democratize truth-seeking!”
Wow. Next he’s gonna say “that’s not a scam, that’s a conversational metaphor.”
FAQ 😒
- What is the ‘Coalition’?
One person’s “alliance” is another’s “corporate potluck” for wrestling state regulations. - Who’s part of it?
Kalshi, Crypto.com (who’s basically a hashtag in a onesie), Coinbase, Robinhood (aka HOOD: Nasdaq for dreamers), and Underdog (love dogs). - Why fight state laws?
They want “consistent” rules. i.e., “Don’t make us explain compliance to 50 different lawyers who argue with emoji ballots.” - How big is this market?
They’ve banked $28B in trading. Shoutout to everyone betting on capitalism like it’s a horse race at the end of the world.
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2025-12-15 03:08