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2026-05-27 08:33:26
[Trump Pushes for CFTC as Sole Regulator for Prediction Markets, Family Members Enter the Fray] (1) US President Donald Trump has stated his support for the Commodity Futures Trading Commission (CFTC) as the sole regulator for prediction markets. He has chosen to side with the federal agency amid a multi-billion dollar industry and escalating legal disputes with states. (2) Trump stated on social media that the CFTC's exclusive jurisdiction over prediction markets must be maintained, while ensuring the industry thrives and establishing industry rules that will become the "gold standard" for states. (3) Over the past year and a half, prediction markets (which allow users to bet on virtually any event) have seen rapid growth in trading volume, thanks to the Trump administration's support. (4) However, some states have objected to companies like Kalshi and Crypto.com, arguing that these platforms should be subject to state-level regulation rather than exclusive federal jurisdiction. (5) The Trump family has also entered the field: his son, Donald Trump Jr., serves as an advisor to both Kalshi and Polymarket; Trump Media & Technology Group has announced the launch of its own trading platform.
