Trump praises prediction markets, defends CFTC as court cases compound
President Donald Trump emphasized the importance of the CFTC maintaining exclusive authority over prediction markets. He criticized state officials for attempting to regulate these markets, which he views as a financial innovation. The ongoing legal disputes may eventually reach the U.S. Supreme Court as states and the CFTC clash over jurisdiction.
- ▪Trump stated that it is critically important for the CFTC to have exclusive authority over prediction markets.
- ▪Several states, including New York and Illinois, have taken legal action against prediction markets, claiming they violate state gambling laws.
- ▪The CFTC argues that prediction market contracts fall under its jurisdiction and should not be regulated by states.
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PolicyShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailTrump praises prediction markets, defends CFTC as court cases compoundU.S. President Donald Trump said it was "critically important" that the CFTC keep "exclusive authority" over prediction markets, echoing CFTC Chair Michael Selig.By Nikhilesh De|Edited by Aoyon AshrafUpdated May 26, 2026, 9:56 p.m. Published May 26, 2026, 9:50 p.m. 3 min readMake preferred on President Donald Trump (Jesse Hamilton/CoinDesk)U.S.
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