Trump voices support for CFTC in battle for authority to regulate prediction markets
President Trump has expressed his support for the Commodity Futures Trading Commission (CFTC) in its efforts to maintain federal authority over prediction markets. This comes amid legal disputes between the CFTC and various states seeking to impose their own regulations on the industry. Trump emphasized the importance of federal control to keep the U.S. competitive in emerging financial technologies.
- ▪Trump supports the CFTC's authority over prediction markets amid state-level regulatory battles.
- ▪He criticized certain Democratic officials for pushing for tighter state oversight.
- ▪The CFTC is currently involved in legal disputes with states like Minnesota over prediction market regulations.
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President Donald Trump threw his support behind the federal agency overseeing prediction markets on Tuesday, amid a growing battle between Washington and the states over who should regulate the rapidly expanding industry. Trump backed the authority of the Commodity Futures Trading Commission, the federal agency responsible for overseeing derivatives and financial markets, arguing that prediction markets should remain under federal jurisdiction. Recommended Stories What’s next for the bipartisan housing legislation? James Comer starts investigation into Kalshi and Polymarket over insider trading Consumer sentiment plunges to record low as inflation trends up again “It is critically important that the CFTC’s exclusive authority over Prediction Markets is maintained, and that they will…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Washington Examiner.
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