‘Scum’: Trump attacks US states’ efforts to regulate prediction markets
Donald Trump has criticized state efforts to regulate prediction markets, asserting that the federal government should maintain control over the industry. He emphasized the importance of the Commodity Futures Trading Commission (CFTC) retaining exclusive authority over these markets, which have been likened to gambling. As states like Minnesota move to impose restrictions, Trump argues that such actions could hinder the growth of a significant financial sector.
- ▪Trump stated that the federal government must retain control over prediction markets.
- ▪Minnesota recently became the first state to ban prediction markets, citing concerns over their addictive nature.
- ▪The CFTC has filed a lawsuit to overturn Minnesota's ban on prediction markets.
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A Polymarket advertisement in a subway station in New York. Photograph: Michael Nagle/Bloomberg via Getty ImagesView image in fullscreenA Polymarket advertisement in a subway station in New York. Photograph: Michael Nagle/Bloomberg via Getty ImagesTrump administration‘Scum’: Trump attacks US states’ efforts to regulate prediction marketsPresident says federal government must retain regulatory authority as concerns grow over ‘addictive’ platformsRoque PlanasTue 26 May 2026 21.25 EDTLast modified on Tue 26 May 2026 21.26 EDTSharePrefer the Guardian on GoogleDonald Trump wrote in a social media post on Tuesday it was “critically important” that the federal government retain control over the multibillion-dollar prediction market industry, as he cast a critical eye on state attempts to impose…
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