Former Senator Blanche Lincoln, a key architect of the Dodd-Frank Act, is now a paid lobbyist for Kalshi, a prediction market platform. In 2010, she warned the Senate against sports event contracts, calling them pure gambling. Her firm, Lincoln Policy Group, received 180,000 dollars from Kalshi in 2024 to push the CFTC to claim exclusive jurisdiction over these products. Sports event contracts account for roughly 80 to 90 percent of the platform’s trading volume in 2025. This legal battle opposes Kalshi to state regulators over whether these products fall under federal derivatives law or state gambling laws.
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