Trump Defends CFTC Jurisdiction Over Prediction Markets
Cointelegraph
Donald Trump declared that the CFTC should have exclusive authority over prediction markets to ensure their success and protect the growing industry.Summary
US President Donald Trump has publicly supported the Commodity Futures Trading Commission (CFTC) as the sole regulatory authority over prediction markets. Trump criticized state-level officials who have launched legal challenges against platforms like Polymarket, Kalshi, and Robinhood, arguing that federal oversight is necessary to maintain a competitive "Gold Standard." The CFTC, led by Chair Mike Selig, maintains that these platforms fall under its federal jurisdiction as designated contract markets. Despite previous personal skepticism regarding these markets, Trump emphasized the need for U.S. leadership in this financial sector to prevent the country from falling behind international competitors.
(Source：Cointelegraph)