US EditionTrump administration backs Kalshi, Polymarket as states move to ban prediction markets
The Trump administration and CFTC argue prediction markets are futures contracts under federal law, challenging state gambling restrictions amid ongoing multi-state lawsuits.
- 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.
91 Articles
91 Articles
Trump appointee bans US states from regulating prediction markets
A key federal regulatory commission has announced that it will be fighting against individual states’ powers to regulate prediction markets. Mike Selig, chairman of the US Commodity Futures Trading Commission (CFTC), wrote in an op-ed published by the Wall Street Journal on Tuesday that his agency has exclusive powers to regulate prediction markets, and that it would […] The post Trump appointee bans US states from regulating prediction markets …
Trump administration backs Kalshi and Polymarket as states move to ban prediction markets
The Trump administration is throwing its support behind the prediction market operators Kalshi and Polymarket in a critical legal battle between the growing prediction market industry and states that wish to ban these platforms.
Republicans turn on Trump czar over prediction market power grab: 'Destroying lives!'
An industry-beloved financial regulator appointed by President Donald Trump is declaring war on states' ability to regulate a growing class of gambling companies — and even Republican state officials are pushing back.The issue concerns so-called prediction markets, which allow people to "trade futures" on the probability of various events occurring. The overwhelming bulk of their trading volume involves sporting events. These companies, like Pol…
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.
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