The CFTC has argued it has exclusive authority to regulate the growing prediction market sector rather than state-by-state regulation.

The president’s comments come as the CFTC is engaged in multiple legal fights with states seeking to restrict prediction market platforms.

US President Donald Trump has backed the CFTC having “exclusive authority” over prediction markets amid mounting state action against the platforms.

“We cannot have SCUM like Chris Christie, Letitia James, Tim Walz, and JB Pritzker setting the rules!”

The CFTC has submitted a proposal to create rules for event contracts in a push to regulate prediction markets at the federal level.

The future of prediction markets will likely be decided by the Supreme Court, while states still appear to hold the advantage, TD Cowen said.

The White House is reviewing proposed prediction market rules as President Trump throws his support behind the CFTC.

The CFTC has argued it has exclusive authority to regulate the growing prediction market sector rather than state-by-state regulation.

The proposal could shape how Kalshi, Polymarket, and other event-contract platforms operate as states challenge the CFTC’s authority.

Kalshi, CFTC Chair Michael Selig, and US President Donald Trump all made public statements this week supporting federal regulation over prediction markets in response to…