A senator tried to ban gambling on prediction markets—now she’s a Kalshi lobbyist
AI-rewritten: This is a summary of an article from Ars Technica, rewritten by AI (Qwen, running locally) to make it easier to read. The facts come from the original article – read it for the full story.
Jon Brodkin
• October 8, 2026
In July 2010, Senator Blanche Lincoln warned that prediction markets could evade gambling laws by offering "event contracts" for sports events like the Super Bowl. She stated these contracts would serve no commercial purpose and be used solely for gambling. At the time, she was a primary author of Title VII of the Dodd-Frank Act, which gave the Commodity Futures Trading Commission (CFTC) authority to ban such trading in the public interest.