Spain’s Dirección General de Ordenación del Juego (DGOJ) has announced that it has blocked prediction market operators Polymarket and Kalshi, arguing that both offered their...
Trump supports prediction markets in new social media post
In a new post published on Truth Social, U.S. President Donald Trump has spoken out in support of CFTC-regulated prediction markets, praising the “new form of Financial Markets”.
The President’s comments come at a time when criticism of prediction markets is on the rise, with multiple states filing lawsuits and cases against prediction platforms, arguing that they offer illegal gambling to citizens. At the same time, the U.S. has given exclusive supervisory authority of event contracts to the federal government, prohibiting states from applying their laws on the platforms.
Trump wrote:
“It is critically important that the CFTC’s exclusive authority over Prediction Markets is maintained and that they will thrive. Mike Selig, CFTC Chairman and respected by all, is doing a great job. Thank you, Mike! Under my leadership, we are setting ‘rules of the road’ that are the Gold Standard for the States.”
Trump’s comments also targeted state officials, including the Attorney General of New York, Minnesota Governor Tim Walz, and Illinois Governor JB Pritzker, who have recently launched legal action against different prediction platforms.
The post stated:
“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.”
Additionally, President Trump’s son, Donald Trump Jr., is currently serving as an adviser to the top prediction platforms in the United States, Polymarket and Kalshi.
The authorities in South Korea have launched an investigation into Polymarket to decide whether the platform’s product is classified as illegal gambling under the country’s...
