WASHINGTON, D.C. — FairPredicts, a political nonprofit that describes itself as a prediction market watchdog, launched a six-figure digital and billboard advertising campaign in the Washington, D.C., media market. The ad buy is timed to coincide with a Senate Commerce Committee hearing scheduled for Wednesday that will examine the expansion of gambling and prediction markets.

"FairPredicts is launching today as a nonpartisan market integrity watchdog with one clear mission: holding Kalshi and other prediction market operators accountable for the growing gap between what they tell the public and what they actually do," the group said in announcing the campaign. The organization's focus is largely on sports wagering and the ability of people to influence markets with insider government or political information not available to the public.

FairPredicts would not comment on its funding sources. As a political nonprofit, it is not required to publicly disclose its donors.

Kalshi, one of the largest prediction markets, spent nearly $500,000 in 2026 lobbying Congress and the Commodity Futures Trading Commission, the federal agency that regulates the industry. In February, the company said it had opened 200 investigations into insider trading and turned over two of those investigations to the commission, as required by law. Last month, Kalshi fined and suspended three political candidates for insider trading on their own campaigns.

"No system is perfect. No financial exchange is immune from bad actors. Not stock exchanges, not banks, not prediction markets. We're committed to deterring and finding the bad actors, manipulators, and those who willingly cheat," the company said.

Advertising and lobbying spending by sports gambling and prediction market platforms has increased since the legalization of sports gambling and regulatory approval of prediction markets. Some of the largest sports betting platforms recently put more than $40 million into a super PAC focused on influencing state legislative races. Bipartisan scrutiny of alleged insider trading on prediction markets has increased.

"This hearing will examine how we strengthen oversight, protect the credibility of competition, and address the growing exposure of young people and children to betting platforms," U.S. Sen. Marsha Blackburn said.

The hearing will feature four witnesses: Bill Miller, president and CEO of the American Gaming Association; Mary Beth Thomas, executive director of the Tennessee Sports Wagering Council; Scott Sadin, co-founder of Integrity Compliance 360; and Patrick McHenry, senior adviser for the Coalition for Prediction Markets. The committee has not announced whether additional witnesses may be called.