U.S. President Donald Trump pressed Tuesday for federal regulators to keep control over prediction markets, calling it a "critically important" issue as states move to treat the fast-growing sector as gambling under their own laws.“We cannot have SCUM like Chris Christie, Letitia James, Tim Walz, and JB Pritzker setting the rules,” Trump wrote on Truth Social, adding that the CFTC’s “exclusive authority” should be maintained as other countries pursue what he called a new form of financial market.Prediction markets should “thrive” under federal “rules of the road,” Trump said, arguing that other countries are pursuing the market and tying the issue to his broader push to keep crypto activity in the U.S.Trump’s stance on prediction markets has shifted over recent months. In April, the president stated he was “never much in favor” of prediction markets and said they had helped turn the world into “somewhat of a casino.” Asked days later whether his administration would change its position, he said “very smart” people backed the sector and that the U.S. could be “left out in the cold” if other countries moved first.“A lot of other countries are doing it, and when the other countries do it, we get left out in the cold if we don’t,” Trump told Decrypt.
Trump Backs CFTC Over Prediction Markets, Calls State Officials ‘Scum’ - Decrypt
Federal oversight gains the president’s backing as states push to bring prediction markets under their own gambling laws.










