Prediction Markets Win Trump Support, CFTC Praise
Highlights
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President Donald Trump openly advocates for prediction markets on social media.
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His recent comments contrast with the remarks he made in April.
American President Donald Trump has publicly endorsed the prediction market on social media under the CFTC watch.
Trump stated, “It is critically important that the CFTC’s exclusive authority over Prediction Markets is maintained, and that they will thrive.”
He further mentioned that the administration was setting “rules of the road.” These rules would become the “Gold Standard for the States.”
These statements came amid a growing legal battle between prediction market operators and state regulators over whether sports event contracts fall under the CFTC’s exclusive authority or state gambling laws.
Trump, in his writing, has given a direct response to prominent critics of prediction markets.” We cannot have SCUM like Chris Christie, Letitia James, Tim Walz, and JB Pritzker setting the rules!
These officials highlighted here have been involved either in regulatory or legislative action or in publicly criticizing prediction market software.
Trump, in his post, describes a prediction market as a financial market rather than a gambling market, reinforcing the stance of both the industry and the CFTC in court. He linked the prediction market to broader crypto and fintech technologies, indicating that it’s a major industry that must be secured.
However, all these comments suggest a deviation from the remarks made in April, when Trump seemed more skeptical of prediction market platforms.
For more information, Refer Here !
Trump stated, “It is critically important that the CFTC’s exclusive authority over Prediction Markets is maintained, and that they will thrive.”
He further mentioned that the administration was setting “rules of the road.” These rules would become the “Gold Standard for the States.”
These statements came amid a growing legal battle between prediction market operators and state regulators over whether sports event contracts fall under the CFTC’s exclusive authority or state gambling laws.
Trump, in his writing, has given a direct response to prominent critics of prediction markets.” We cannot have SCUM like Chris Christie, Letitia James, Tim Walz, and JB Pritzker setting the rules!
These officials highlighted here have been involved either in regulatory or legislative action or in publicly criticizing prediction market software.
Trump, in his post, describes a prediction market as a financial market rather than a gambling market, reinforcing the stance of both the industry and the CFTC in court. He linked the prediction market to broader crypto and fintech technologies, indicating that it’s a major industry that must be secured.
However, all these comments suggest a deviation from the remarks made in April, when Trump seemed more skeptical of prediction market platforms.
For more information, Refer Here !
