(PRESS RELEASE) -- Kalshi released new comprehensive polling data showing that 9 out of 10 American voters want to have access to prediction markets in their current form and regulatory structure. Moreover, voters are dubious of efforts by state gaming commissions to limit their access.
Axis Research surveyed 1,219 voters nationwide from 18-23 September 2025, with a proportionate distribution across gender, age, ethnicity, and political affiliation variables. As highlighted by Axis Research in their memo:
- Americans Demand Access & Choice: 89% agree with the statement “Even if I don’t participate in these types of markets, I believe all Americans should have access and the option to decide for themselves.”
- Freedom to Invest: An overwhelming majority of voters (70%) believe Americans should be able to invest in specific outcomes, such as the outcome of an election or agricultural futures.
- Bipartisan Support: The support is widely bipartisan, with 75% of Republicans and 71% of Democrats in favor, and is consistent across income brackets.
Prediction markets are regulated under federal jurisdiction by the Commodities Futures Trading Commission (CFTC), and voters believe that’s where regulation should stay:
- Financial Tool, Not Gambling: 89% of voters view the purchase of stocks, mutual funds, and participation in commodities markets as a “financial investment,” rather than as “gambling.”
- Federal, Not State Jurisdiction: Voters overwhelmingly say that “Federal Government Regulators” (79%) should have jurisdiction over these activities rather than “State Gaming Commissions” (21%).
- Voters Reject Gaming Commission Meddling in Futures: 80% of respondents agree with the statement that “Buying a stock or investing in the future price of wheat is not gambling and should not be regulated by a state gaming commission.”
“Americans want access to prediction markets reliably regulated by financial experts in the federal government, not 50 different ill-equipped state gaming commissions,” said Sara Slane, Kalshi’s Head of Corporate Development. “American voters want the freedom to choose how to invest their own money without state-level bureaucrats interfering. The current federal regulatory structure is best equipped to oversee this financial activity, not an unpredictable state regulatory patchwork. Kalshi supports this vision — every American, no matter where they live, should be able to make financial decisions for themselves without state casino regulators getting in the way.”
The data also found that Americans believe changing the way prediction markets are regulated would be harmful to market participants.
- Inconsistent Regulation Hurts the Less Advantaged Most: 82% agree with the statement that “Having trades managed by 50 state agencies would be a cumbersome patchwork of regulations that would burden consumers and disadvantage middle- and lower-income households.
- Uniformity, Not Confusion: 83% believe “The lack of uniformity among state regulations will cause confusion for both the users and operators of these platforms.”
- Federal Regulation Prevents State-Level Corruption: 83% agree that “State-by-state regulatory approaches lead to inefficient enforcement and monitoring, creating some states with relaxed rules that lead to corruption.”