A senator tried to ban gambling on prediction markets—now she's a Kalshi lobbyist

In July 2010, US Senator Blanche Lincoln (D-Ark.) predicted the rise of prediction markets and the problems they could cause. If not properly regulated, Lincoln warned during Senate proceedings on the Dodd–Frank Wall Street Reform and Consumer Protection Act, prediction markets could evade gambling laws by offering "event contracts" that let people place wagers on sports games. "It would be quite easy to construct an event contract around sporting events such as the Super Bowl, the Kentucky Derb