Why It Matters
PrizePicks is lobbying on federal regulation of prediction markets, online gaming, and the Indian Gaming Regulatory Act (IGRA) as two federal appeals courts ruled against prediction-market platforms during the third quarter of 2026. The Ninth Circuit held in August that Nevada could enforce its gaming laws against Kalshi's sports-related event contracts, and the Sixth Circuit reached the same conclusion in September, each describing the rulings as setbacks for platforms offering sports-event contracts outside state gaming frameworks.
By the Numbers
PrizePicks' in-house third-quarter report, signed November 3, discloses $320,000 in lobbying expenditures, up $90,000 from the $230,000 reported in each of the first and second quarters of 2026. Across the filings identified for each quarter, PrizePicks' lobbying spending totaled $636,000 in the third quarter of 2026, up from $546,000 in the second quarter and $506,000 in the first.
Seven outside firms also filed third-quarter reports for PrizePicks: Rich Feuer Anderson ($50,000); Polaris Consulting LLC ($60,000); Vogel Group LLC ($60,000); Cormac Group LLP ($30,000); Malbrue Group LLC ($6,000); Penn Avenue Partners LLC ($50,000); and Rubin, Turnbull & Associates Inc. ($60,000). McGuireWoods Consulting LLC filed a new client registration for PrizePicks.
Rich Feuer Anderson added Steve Donaldson to its team in the third quarter; the firm's second-quarter roster listed only Andrew Palmer, John Anderson, and Tom Koonce. The in-house filing lists one lobbyist: Nick Zabriskie, senior vice president of public affairs, who has prior government experience.
Broader Context
Rep. Dina Titus (D-Nev.) introduced H.R. 7477, the Fair Markets and Sports Integrity Act, in February; it was referred to the House Agriculture subcommittee on March 20.
Sens. Adam Schiff (D-Calif.) and John Curtis (R-Utah) introduced S. 4160, the Prediction Markets Are Gambling Act (PMAGA), in March, which would prohibit Commodity Futures Trading Commission (CFTC)-registered entities from listing certain sports- and casino-style event contracts.
Meanwhile, the Ninth Circuit ruled Aug. 28 in KalshiEX, LLC v. Assad that Nevada could enforce its gaming laws against Kalshi's sports-related event contracts, and the Sixth Circuit reached the same conclusion on Sept. 25.
In terms of impact for Tribal sovereignty, a Brookings Institution author concluded that sports-event contracts threaten Tribal gaming and sovereignty by operating outside IGRA's state-and-Tribal regulatory framework, citing Kalshi's more than $2.5 billion in sports-event-contract revenue in September 2025 compared with $14 billion in online sportsbook bets that month in 2024. Sen. Martin Heinrich urged Senate committees to regulate prediction markets, arguing that sports-event contracts and online casino-style gaming threaten Tribal sovereignty and states' rights.
The Bottom Line
H.R. 7477 awaits action in the House Agriculture subcommittee and S. 4160 has no recorded committee action; neither chamber has scheduled a floor vote on either measure. Nonetheless, across complete quarters, PrizePicks' in-house spending has risen steadily, and the addition of McGuireWoods Consulting LLC marks a new outside registrant this quarter.
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