The White House is reviewing proposed prediction market rules as President Donald Trump throws his support behind the Commodity Futures Trading Commission’s oversight of the industry amid growing resistance from states.
On Tuesday, the White House's Office of Information and Regulatory Affairs said it received the proposed rule from the CFTC, and said it is pending review, according to its website.
In an emailed statement to The Block, a CFTC spokesperson said the agency will say more once the OIRA's process is finished.
"The Commission has transmitted its notice of proposed rulemaking on event contracts under Section 5c(c) of the Commodity Exchange Act to the Office of Information and Regulatory Affairs for review, consistent with the standard interagency process," the CFTC spokesperson said. "We look forward to OIRA’s review and will have more to say once that process is complete."
The White House did not immediately respond to a request for comment.
