  Recent cross section data for the reaction gamma + p \to K^+ + Lambda are
examined for evidence of scaling in both the low-t Regge domain and in the high
\sqrt{s} and -t domain where constituent counting may apply. It is shown that
the reaction does scale in both regimes. At large center of mass angles, s^{-7}
scaling appears to hold at essentially all -t, but with angle-dependent
oscillations. The scaled data show particularly strong evidence for s-channel
resonances for -t below 2 GeV^2 and for W below about 2.3 GeV. The dominant
contributions are consistent with an N^* S_{11} resonance at 1690 MeV, a P_{13}
at 1920 MeV, and a D_{13} resonance at 2100 MeV, which interfere to give the
observed strong angular dependence.
