Polymarket and Kalshi spend $5M on political donations amid regulatory pressure
- —Total contributions from the firms and founders reached at least $5 million
- —Republicans received $2.7 million, with the rest going to Democrats
- —Polymarket transferred $1 million to House Majority Forward, which hides donors
- —Over a third of the money went to state-level groups backing governors and attorneys general
Why it matters: The spending grows as states and Congress dispute whether prediction-market contracts are gambling or federally supervised instruments.
Source: DiarioBitcoin