AUSTIN — Prediction-market company Kalshi and its executives have contributed at least $22,600 to Texas candidates and political committees since 2025 as the company faces legal challenges over whether states can regulate its event contracts.
Federal Election Commission records show contributions from Kalshi and its executives to Texas Attorney General Ken Paxton, U.S. Rep. Brandon Gill and Democratic U.S. Rep. Vicente Gonzalez.
Paxton received the largest amount. Kalshi gave $5,000 to his Lone Star Liberty PAC in May 2025, while CEO and co-founder Tarek Mansour gave $7,000 to Paxton’s U.S. Senate campaign a month later.
Mansour also contributed $3,615.70 to Gill’s campaign, while Kalshi Chief Operating Officer and co-founder Luana Lopes Lara gave Gill $3,500. Mansour gave Gonzalez $3,500 in March.
The contributions come as Kalshi fights efforts from states seeking greater authority to regulate prediction markets, including contracts tied to sports and politics.
Forty-four state attorneys general and other jurisdictions urged the Trump administration in July to recognize states’ authority over sports-related prediction markets. Paxton did not join the effort.
Paxton has previously taken a strict position on gambling. In 2016, he issued an opinion that said paid daily fantasy sports contests violated Texas gambling law when operators took a share of entry fees. FanDuel later stopped accepting paid entries in Texas following a settlement with his office.
Kalshi argues that its event contracts qualify as financial products traded on a federally regulated exchange rather than traditional sports betting. That distinction has become central to its legal disputes with states.
Kalshi spokesperson Elisabeth Diana said the company’s leaders support candidates from both political parties.
Paxton is running for U.S. Senate against Democratic state Rep. James Talarico. His campaign, Kalshi and Gonzalez’s campaign have been contacted for comment. Gill’s office did not immediately respond.
