A coalition of major crypto and fintech companies, including Kalshi, Crypto.com, Coinbase, Robinhood, and Underdog, has formed the Coalition for Prediction Markets. This group aims to advocate for federal oversight of prediction markets, countering state-level restrictions. The coalition emphasizes the importance of a unified regulatory framework to protect liquidity and the broader crypto market, which has experienced nearly $28 billion in trading volume through October. The coalition argues that federal regulation would prevent a fragmented system and align with international standards like the EU's Markets in Crypto-Assets Regulation. This approach is intended to enhance transparency and provide consumer safeguards, ensuring a stable and secure environment for market participants.