Today we launched the Coalition for Prediction Markets @PredictAction alongside Cryptocom, Robinhood, Coinbase, and Underdog. Millions of Americans have become active users of prediction markets, whether they trade or learn from the forecasts. These markets have emerged as the most powerful way to harness the wisdom of crowds and routinely outperform traditional polls. Economists, news networks (CNN, CNBC), journalists, policymakers, and passive readers now rely on them for high quality signal amongst the overwhelming noise of public discourse. We created the Coalition with a simple mission: provide a voice for prediction markets against adverse legacy lobbying groups. The Coalition will also protect the transparency, market integrity, and customer protection standards that underpin the industry. We expect more industry players to join over the next few months. Why now? With over 150B of annualized volume, prediction markets have quickly become one of the most important consumer internet applications. In recent months, lobby groups have attacked prediction markets and spread mis-information about how they work and how they’re regulated. Just like how the bank lobby attacked crypto claiming it's “not safe”: the attacks on prediction markets aren’t about protecting consumers, they're about protecting monopolies and the profits they fear losing. The Coalition will work with policymakers to educate the public about how prediction markets work and how they differ from casinos and sportsbooks. With prediction markets, there is no “house” and no penalty for winning. People trade in a transparent and competitive environment against each other, just like the stock market. Prediction markets deserve the same rigor as any modern financial market – clear rules and federal oversight. The best way to protect consumers is to keep these markets federally regulated, with consistent guardrails. Onwards.

@PredictAction Thank you to @MSDCRO from , @JBMackenzie_ and Connor Carney from Robinhood, @iampaulgrewal and @karacalvert from Coinbase, @staciestern from Underdog, and @Sara_Slane from Kalshi.