President Trump Says Prediction Markets Must Be Regulated by the CFTC

Prediction market opposition continues to mount, but the sector is holding its own and launching legal counter-offensives 

Trump Pummels People in Power Who Move Against Prediction Markets

President Donald Trump can be a divisive figure, and this is putting it lightly. From military overtures in Venezuela and Iran, to bullying allies who obstinately refuse to submit, to threatening invasions of Cuba and Iceland, POTUS has had a full second term on his hands. 

One thing that remained fairly constant, though, is President Trump’s unspoken support of prediction markets – that is, until a recent Truth Social media post in which the Commander in Chief gave a firm nod to the CFTC, and said that prediction markets must only be regulated under its purview.

POTUS’s remarks come amid a tense time for prediction markets in the United States, with the Supreme Court becoming increasingly likely to intervene as legal action continues to flare up on the state level, spearheaded by attorneys general and the main prediction market platforms, among which are Kalshi and Polymarket.

“It is critically important that the CFTC’s exclusive authority over Prediction Markets is maintained, and that they will thrive. Under my leadership, we are setting ‘rules of the road’ that are the Gold Standard for the States,” President Trump said on Truth Social, his version of social media platform X.

CFTC Should Not Be Challenged, POTUS Insists

In fact, the President appeared to be particularly irritated by ongoing attempts to have prediction markets limited and restrained under local gaming laws, lashing out against a former ally, Chris Christie.

A former Republican, Christie has joined the American Gaming Association (AGA) to back the prominent trade group’s efforts in reining in the growth and expansion of the prediction market sector.

The association has repeatedly criticized prediction markets, arguing that they encroached on existing gaming laws. This animosity has led to an internal rift, with multiple mainstream betting companies, which have pursued prediction market projects of their own, quitting the association.  

President Trump vituperated against politicians who have opposed the sector, using stern language to describe them.

“We cannot have SCUM like Chris Christie, Letitia James, Tim Walz, and JB Pritzker setting the rules! Other Countries are after this new form of Financial Market, and we want to remain at the top,” he said. 

The people named in this latest sally are not randomly selected either. They are people in power across the political and public spectrum who have sought to block – or have succeeded – in the prediction market vertical.

Prediction Markets Constitute Business Interest for the Trumps 

Tim Walz, the governor of Minnesota, signed a law making his state the first in the country to outlaw prediction markets only recently. Letitia James is the attorney general of New York, and she, too, has attacked the sector.

President Trump’s sudden dissatisfaction with political figures tangling with prediction markets is hardly a coincidence. POTUS’ son, Donald Trump Jr is an advisor to both Kalshi and Polymarket, and rumors are circulating that White House insiders may be profiting from sensitive information to influence outcomes of prediction markets. 

Not least, President Trump’s “Truth” brand is already testing a prediction market of its own, and a launch is expected before long.