- Trump has publicly supported the Commodity Futures Trading Commission’s (CFTC) exclusive authority over prediction markets.
- The regulator has filed a lawsuit against five states over pressure on prediction markets.
The US President stated that it is crucial that the Commodity Futures Trading Commission (CFTC) become the sole regulator of prediction markets. He wrote this on his social media account, Truth Social.
It is imperative that the Commodity Futures Trading Commission retains exclusive authority over prediction markets and that these markets thrive. Under my leadership, we are establishing the “rules of the game” that will become the gold standard for the United States. wrote Trump
The announcement comes at a time when platforms such as polymarket, Kalshi, Robinhood and Crypto.com:, have come under pressure from regulators in various US states. Authorities in Wisconsin, Illinois, Arizona, Connecticut, and New York are attempting to shut down prediction markets in accordance with state gambling laws. Minnesota became the first state to criminalize these platforms. Governor Tim Walz signed a law making them criminally licit.
The CFTC, under the leadership of Mike Seling, is currently pursuing active litigation against the authorities of these states.
We can’t let scumbags like Chris Christie, Letitia James, Tim Walz, and J.B. Pritzker set the rules! Other countries are eager to get their hands on this new kind of financial market, and we want to stay on top.
This is even more important because we are currently the Cryptocurrency capital of the world (Bitcoin etc.), and other countries are trying hard to replace us in this capacity, but we will not allow that to happen. This is a major industry, and we must protect it. Mike Selig, the highly respected chairman of the CFTC, is doing an excellent job, wrote Trump
Meanwhile, prediction markets are facing pressure not only in the US. Over the past week, these markets have been blocked in Indonesia и Spain.
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