US EditionTrump administration backs Kalshi, Polymarket as states move to ban prediction markets
The Commodity Futures Trading Commission and the Trump administration argue federal oversight preempts state gambling laws as Kalshi and Polymarket face multiple lawsuits from states including Nevada.
- The Trump administration supports prediction market operators Kalshi and Polymarket, which are being sued by states alleging illegal gambling.
- The Commodity Futures Trading Commission's chairman says the agency will not allow states to undermine its jurisdiction over prediction markets.
- Kalshi and Polymarket allow customers to wager on events like sports and current affairs by buying probability-based contracts.
35 Articles
35 Articles
Trump administration backs Kalshi and Polymarket in big legal fight over U.S. betting rules
The U.S. government is backing prediction market platforms in a major legal fight with several states. The dispute is about who should control these online betting-style markets — federal regulators or state gambling authorities. The outcome could change how sports betting, online prediction trading, and digital event contracts are regulated across the country in the future.
CFTC to states: hands off prediction markets
The NewsState officials have filed two dozen suits against prediction market operators, trying to protect traditional casino revenue and stop underage gambling. The Trump administration’s message to them: Drop dead.The Commodity Futures Trading Commission on Tuesday filed a legal brief in support of Crypto.com, which alongside Kalshi and Polymarket is being sued by Nevada for allegedly operating unlicensed sportsbooks. CFTC Chair Michael Selig s…
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