NCPG Defends Kalshi Membership and Institutional Independence

United States.- 25 September 2026 | www.zonadeazar.com The National Council on Problem Gambling, NCPG, has defended its institutional relationship with Kalshi following criticism surrounding the prediction market platform’s membership of the organisation.

The Council stressed that accepting membership fees, donations or private-sector funding does not amount to endorsing a company’s products, business model or regulatory positions.

The debate follows Kalshi’s commitment to invest US$2 million over two years in a new NCPG initiative focused on health and safety across financial markets and trading platforms.

Kalshi Joins the NCPG

Kalshi joined the National Council on Problem Gambling as a Platinum-level member.

The company also became the first participant in the organisation’s newly established Financial Services & Trading membership subcategory.

The category was designed to expand NCPG’s work into emerging financial products and markets that may produce behavioural patterns similar to those found in certain forms of gambling.

US$2 Million Commitment

Kalshi committed US$2 million over two years.

The funding supports the Financial Trader Health and Safety Initiative.

The programme is intended to expand education, research and awareness surrounding risks associated with participation in a range of retail financial products.

Financial Trader Health and Safety Initiative

The initiative is designed to examine potentially harmful behaviour connected with financial products and trading.

Its scope includes:

• Prediction markets.
• Retail trading.
• Equities.
• Options.
• Futures.
• Cryptoassets.
• Other highly accessible financial products.

NCPG believes the expansion of these platforms requires new approaches to prevention.

Growth of Prediction Markets

Prediction markets have increased their exposure to US consumers significantly.

These platforms allow users to buy and sell contracts whose value depends on future outcomes.

Products can cover political, sporting, economic, cultural and other events.

Debate Over Their Classification

A major regulatory debate concerns whether activity on certain prediction market platforms should be considered gambling or financial trading.

NCPG remains neutral on their legal status.

However, from a functional and public-health perspective, the organisation argues that such products can create risks similar to traditional gambling.

NCPG Position

The Council says its mission does not depend on the legal label attached to a particular product.

Its focus is on the consequences that certain activities may produce for consumers.

NCPG says financial, emotional and relationship harms can arise from problematic participation in prediction markets.

Statements

Derek Longmeier, President of the NCPG Board of Directors, said prediction markets have rapidly become mainstream products used by millions of Americans.

The organisation believes that regardless of their legal classification, these platforms can function like gambling and expose consumers to comparable risks.

Longmeier also stressed that NCPG’s neutrality on legalisation does not extend to the need to prevent and reduce harm.

Membership Does Not Mean Endorsement

NCPG has directly addressed criticism surrounding its relationships with private companies.

The organisation says institutional membership does not amount to endorsement of:

• A company.
• Its products.
• Its services.
• Its business practices.
• Its policy positions.
• Its regulatory arguments.

The Council says there is a formal separation between funding and institutional influence.

Organisational Independence

According to NCPG, companies providing financial support do not gain control over internal decisions.

Members and donors do not determine:

• Regulatory positions.
• Educational content.
• Research priorities.
• Advocacy activities.
• Institutional strategy.
• Governance decisions.

The Council says these areas are managed through its own organisational processes.

Private-Sector Funding

NCPG relies significantly on support from members, partners and donors.

The organisation says it does not receive dedicated federal funding to sustain its broader operations.

Companies connected with gambling have therefore historically formed part of its financial support base.

Industry Members

NCPG’s organisational membership list includes numerous companies from the gambling and betting sector.

These include operators, suppliers, casinos, lotteries and sporting organisations.

Kalshi has now joined that ecosystem through a category created specifically for financial services and trading.

Platinum Membership

Kalshi is currently listed as a Platinum member of NCPG.

This represents the highest level within the organisation’s standard corporate membership programme.

NCPG also identifies Kalshi specifically as a Financial Services & Trading subcategory member.

Leadership Circle

Kalshi is additionally part of NCPG’s Leadership Circle.

The programme recognises organisations making substantial financial contributions to support NCPG’s operations, sustainability and future development.

Kalshi is listed at Chairman Level, which covers annual contributions of at least US$100,000.

Conflict-of-Interest Debate

Commercial companies participating in organisations dedicated to gambling-harm prevention can raise questions about potential conflicts of interest.

NCPG acknowledges that these relationships have generated questions among members and stakeholders.

Its institutional response is to maintain a formal separation between funding sources and its research, advocacy and policy processes.

Financial Transparency

The Council says its non-profit status requires auditable financial reporting.

It also states that information about funding sources and membership structures will continue to be made publicly available.

Transparency therefore forms a central element of NCPG’s response to questions regarding independence.

New Membership Category

The Financial Services & Trading category was established during 2026.

NCPG’s Board of Directors discussed expanding institutional engagement into sectors where products may create behaviour comparable with gambling.

The stated objective is to better understand emerging risks and develop preventive measures before harm becomes more widespread.

Retail Financial Products

The increased accessibility of investment technology has changed participation in financial markets.

Mobile applications now allow users to access numerous financial products in a small number of steps.

NCPG believes lower barriers to participation can create new risks where activity becomes impulsive, repetitive or financially excessive.

Kalshi Event Contracts

Kalshi operates a regulated event-contract market in the United States.

Users trade positions linked to future outcomes.

Contract prices can move according to market expectations regarding the likelihood of a particular event occurring.

Consumer Protection

NCPG believes prediction market platforms should implement consumer protections comparable with those found in regulated gambling sectors.

Measures supported by the organisation include:

• Age verification.
• Self-exclusion tools.
• Clear risk disclosures.
• Participation controls.
• Direct access to support resources.
• Consumer education.
• Systems for identifying problematic behaviour.

Harris Poll

NCPG has cited a Harris Poll commissioned by the organisation.

According to the survey, 85% of Americans surveyed agreed that people can develop unhealthy or addictive behaviours involving prediction market platforms.

A further 84% believed these platforms should face consumer-protection standards comparable with gambling.

Younger Consumers

The rapid adoption of prediction markets among younger audiences is a particular concern for NCPG.

Digital platforms provide fast and continuous access to financial markets and prediction contracts.

The Council argues that the infrastructure required to protect consumers is not developing as quickly as access to the products themselves.

Speed of Participation

Digital markets allow users to enter and exit positions within seconds.

This speed can increase frequency of participation.

For harm-reduction organisations, continuous availability, digital interfaces and rapid financial outcomes create behaviours that may require specialised safeguards.

Neutrality on Legality

NCPG stresses that it does not campaign for or against the legalisation of specific products.

Questions involving licensing, legality and jurisdiction are left to lawmakers, regulators and courts.

Its role centres on prevention, education, consumer protection, harm reduction and access to care.

Engagement With Regulators

The Council seeks dialogue across the wider ecosystem.

Stakeholders include:

• Regulators.
• Lawmakers.
• Operators.
• Prediction market platforms.
• Sports organisations.
• Researchers.
• Treatment professionals.
• Community organisations.
• Consumer advocates.

NCPG argues that meaningful harm reduction requires involvement from multiple sectors.

National Helpline

A major resource within the NCPG ecosystem is the National Problem Gambling Helpline.

The service connects people experiencing gambling-related harm with resources available in their states.

The Council has also encouraged emerging platforms to provide visible access to assistance mechanisms.

Broader Definition of Harm

The initiative represents an expansion of the traditional concept of problem gambling.

NCPG believes some trading behaviours may share characteristics with patterns traditionally associated with gambling.

The organisation intends to study those similarities without relying solely on the legal classification of each product.

Financial Markets and Gambling

The boundary between certain speculative financial products and traditional gambling has become an increasingly active area of debate.

Trading frequency, volatility, digital interfaces and immediate access can shape the way customers interact with these products.

NCPG argues that these behaviours should also be examined from a public-health perspective.

Donors Do Not Control NCPG

The organisation stresses that financial contributions do not provide authority over its research or public communications.

A company can therefore fund NCPG programmes while the organisation maintains positions that do not necessarily align with that company’s commercial interests.

NCPG considers that separation fundamental to preserving independence.

Diverse Membership

NCPG maintains a broad membership base.

Its network includes:

• People in recovery.
• Clinicians.
• Researchers.
• Regulators.
• Government agencies.
• Tribal organisations.
• Operators.
• Suppliers.
• Non-profit organisations.

The Council argues that this range of perspectives helps inform harm-reduction policies.

2026 Strategic Planning

NCPG is also conducting a strategic-planning process during 2026.

Issues identified through stakeholder feedback include transparency, funding and independence, differing expectations around neutrality and the organisation’s relationship with its affiliates.

These questions therefore form part of a broader review of NCPG’s future direction.

Industry Context

The rapid expansion of prediction markets is creating new debates in the United States around regulation, consumer protection and corporate responsibility.

Platforms offering event contracts across sport, politics and economics are increasingly bringing together two sectors historically regulated differently: financial markets and gambling.

For responsible gambling organisations, this means adapting tools originally designed for casinos, lotteries and sportsbooks.

Next Steps or Impact

NCPG will maintain Kalshi within its institutional structure while developing the Financial Trader Health and Safety Initiative supported by the US$2 million commitment.

The organisation will continue to defend the separation between funding and endorsement and says engagement with prediction market companies is intended to expand harm-prevention tools.

The debate will continue to centre on two key questions: how organisations receiving industry funding can preserve institutional independence, and what consumer-protection standards should apply to platforms that may legally be classified as financial markets but which NCPG believes can create gambling-like risks.

As prediction markets continue to expand their reach in the United States, this issue is likely to remain an important point of intersection between financial regulation, responsible gambling and consumer-protection policy.

Editó: @fonta