Blanche Lincoln, who once warned about sports event contracts, now lobbies for Kalshi
- —Lincoln Policy Group received $180,000 from Kalshi in 2024 to lobby on event contract regulation
- —In July 2025 the firm urged the CFTC to claim exclusive jurisdiction over all prediction markets
- —Sports contracts made up 77% of Kalshi's trading volume in early 2025, later rising to 80–90%
- —The Third Circuit backed Kalshi on federal preemption, while the Sixth and Ninth ruled against it
Why it matters: The outcome will decide whether states can treat Kalshi's sports contracts as gambling, directly affecting the platform's volumes.
Source: Crypto Briefing