PANews reported on December 12th that Kalshi and Crypto.com, along with industry leaders such as Coinbase, Robinhood, and Underdog, announced the formation of the Coalition for Prediction Markets (CPM). The CPM aims to promote the development of safe, transparent, and federally regulated prediction markets. Prediction markets are considered a powerful tool for understanding economic, cultural, and political trends, and the total trading volume in prediction markets has reached $28 billion this year.

The alliance will focus on strengthening the federal regulatory framework, establishing nationally unified market standards, preventing insider trading, and ensuring market transparency. At the same time, the alliance will oppose the expansion of state-level regulation to avoid confusion and harm to consumer rights caused by fragmented regulation.