The Trump administration on Wednesday proposed a set of new federal regulations for prediction markets that appear to largely leave the booming industry intact.

The proposed rules will target controversial bets on issues like war and other events, which may be prone to market manipulation or insider trading.

The CFTC proposes new rules for prediction markets, reversing a 2024 ban on sports contracts and consolidating federal oversight of platforms like Kalshi

Trading volume across federally regulated markets surpassed $25 billion in 2025, according to the Commodity Futures Trading Commission.

The CFTC’s proposals don’t apply to most of the bets currently being offered on U.S. platforms. Experts still say they’re a step forward.