{"id":2607139,"date":"2026-05-26T21:43:02","date_gmt":"2026-05-27T01:43:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-supports-cftc-in-battle-for-authority-to-regulate-prediction-markets\/"},"modified":"2026-05-26T21:47:02","modified_gmt":"2026-05-27T01:47:02","slug":"trump-supports-cftc-in-battle-for-authority-to-regulate-prediction-markets","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-supports-cftc-in-battle-for-authority-to-regulate-prediction-markets\/","title":{"rendered":"Trump supports CFTC in battle for authority to regulate prediction markets"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftrump-supports-cftc-in-battle-for-authority-to-regulate-prediction-markets%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2607139&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>In a show of support for federal oversight, President Donald Trump said prediction markets should remain under the exclusive authority of the Commodity Futures Trading Commission (CFTC), citing the need to keep \u201crules of the road\u201d consistent nationwide. His remarks come amid an ongoing legal and political dispute between Washington and states that have moved to restrict or ban <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dems-move-to-ban-bets-on-government-actions-in-prediction-market\/\" title=\"Dems move to ban bets on government actions in prediction market\">prediction market platforms<\/a>.<\/p>\n<p>Trump criticized several Democratic officials backing tighter state regulation and pointed to the latest flashpoint in Minnesota, where Gov.Tim Walz signed a <a href=\"https:\/\/amzn.to\/3YuVZYV\" >bill banning prediction markets-prompting lawsuits<\/a> from federal regulators and industry groups. Trump also argued that maintaining federal control is meaningful for U.S. competitiveness against foreign rivals in financial technology.<\/p>\n<p>The article notes that, alongside state-federal conflicts, lawmakers are escalating scrutiny over the industry. The House oversight Commitee announced an examination into Kalshi and Polymarket over alleged weaknesses in insider-trading safeguards, while other proposals would limit how campaign funds can be used for wagers or restrict politically related prediction markets.CFTC chair Michael Selig has defended federal jurisdiction as states\u2019 attempts to regulate further,warning that the agency will sue jurisdictions that interfere with federal law.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<article class=\"fn-body\">\n<p class=\"wp-block-paragraph\">President<a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\/\" type=\"post_tag\" id=\"4\"> Donald Trump<\/a> threw his support behind the federal agency overseeing <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/markets\/\" type=\"post_tag\" id=\"1824\">prediction markets<\/a> on Tuesday, amid a growing battle between <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/washington-dc-2\/\" type=\"post_tag\" id=\"13110\">Washington<\/a> and the <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/states\/\" type=\"post_tag\" id=\"191\">states<\/a> over who should regulate the rapidly expanding industry.<\/p>\n<p class=\"wp-block-paragraph\">Trump backed the authority of the Commodity Futures Trading Commission, the federal agency responsible for overseeing derivatives and financial markets, arguing that prediction markets should remain under federal jurisdiction.<\/p>\n<section class=\"explore-more-section\" id=\"wex-recommended-widget\">\n<div class=\"magazine-container single\">\n<h1 class=\"magazine-title mt-2\">Recommended Stories<\/h1>\n<p>             <i class=\"fa-solid fa-play icon\"><\/i>         <\/div>\n<div class=\"explore-grid\">\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4580216\/bipartisan-road-housing-act-whats-next\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>What\u2019s next for the bipartisan housing legislation?<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/technology\/4580168\/james-comer-investigation-kalshi-polymarket-insider-trading\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>James Comer starts investigation into Kalshi and Polymarket over insider trading<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4579342\/consumer-sentiment-plunges-to-record-low-as-inflation-trends-up-again\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Consumer sentiment plunges to record low as inflation trends up again<\/h3>\n<p>                         <\/a>                     <\/div>\n<\/p><\/div>\n<\/section>\n<p class=\"wp-block-paragraph\">\u201cIt is critically important that the CFTC\u2019s exclusive authority over Prediction Markets is maintained, and that they will thrive,\u201d Trump <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116642964849373081\" type=\"link\" id=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116642964849373081\">posted<\/a> on Truth Social Tuesday evening. \u201cUnder my leadership, we are setting \u2018rules of the road\u2019 that are the Gold Standard for the States.\u201d<\/p>\n<div class=\"article-paywall\">\n<p class=\"wp-block-paragraph\">The president\u2019s comments come as the CFTC is engaged in multiple legal fights with states seeking to impose their own restrictions on prediction market platforms, which allow users to wager on outcomes ranging from weather patterns to elections and geopolitical events.<\/p>\n<p class=\"wp-block-paragraph\">Trump singled out several <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/democratic\/\" type=\"post_tag\" id=\"1964\">Democratic<\/a> officials pushing for tighter state oversight.<\/p>\n<p class=\"wp-block-paragraph\">\u201cWe cannot have SCUM like Chris Christie, Letitia James, Tim Walz, and JB Pritzker setting the rules,\u201d he said.<\/p>\n<p class=\"wp-block-paragraph\">The latest clash emerged in <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/minnesota\/\" type=\"post_tag\" id=\"443\">Minnesota<\/a> after Gov. <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/tim-walz\/\" type=\"post_tag\" id=\"11523\">Tim Walz <\/a>(D-MN) signed legislation to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bipartisan-bill-bans-congress-from-trading-on-prediction-markets\/\" title=\"Bipartisan bill bans Congress from trading on ...\">ban prediction markets<\/a> in the state, prompting legal action from federal regulators and industry advocates.<\/p>\n<p class=\"wp-block-paragraph\">Trump argued maintaining federal control is critical for keeping the <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/united-states\/\" type=\"post_tag\" id=\"671\">United States<\/a> competitive against foreign rivals in emerging financial technologies.<\/p>\n<p class=\"wp-block-paragraph\">\u201cOther Countries are after this new form of Financial Market, and we want to remain at the top,\u201d Trump wrote. \u201cLikewise, and even more importantly, where we are currently the Crypto (Bitcoin, etc.) Capital of the World, other Countries are trying diligently to replace us in that capacity, but we won\u2019t let that happen. It is a major Industry, and we must protect it.\u201d<\/p>\n<p class=\"wp-block-paragraph\">The president also praised CFTC Chairman Michael Selig, who has <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/4532237\/cftc-michael-selig-vows-continue-financial-rulemaking-amid-vacancies\/\" type=\"link\" id=\"https:\/\/www.washingtonexaminer.com\/news\/4532237\/cftc-michael-selig-vows-continue-financial-rulemaking-amid-vacancies\/\">drawn criticism from Democrats <\/a>because he is currently the lone commissioner serving on what is typically a five-member bipartisan panel.<\/p>\n<p class=\"wp-block-paragraph\">At the same time, lawmakers on<a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/capitol-hill\/\" type=\"post_tag\" id=\"2382\"> Capitol Hill<\/a> are scrambling to address the fast-growing industry amid mounting concerns over insider trading, market manipulation, and corruption.<\/p>\n<p class=\"wp-block-paragraph\">The <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/house-oversight-committee\/\" type=\"link\" id=\"https:\/\/www.washingtonexaminer.com\/tag\/house-oversight-committee\/\">House Committee on Oversight and Government Reform<\/a>, led by Rep. <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/james-comer\/\" type=\"post_tag\" id=\"1931\">James Comer <\/a>(R-KY), <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/technology\/4580168\/james-comer-investigation-kalshi-polymarket-insider-trading\/\" type=\"link\" id=\"https:\/\/www.washingtonexaminer.com\/policy\/technology\/4580168\/james-comer-investigation-kalshi-polymarket-insider-trading\/\">announced Friday <\/a>that it was launching an investigation into prediction market firms Kalshi and Polymarket over allegations tied to insider trading safeguards.<\/p>\n<p class=\"wp-block-paragraph\">Meanwhile, Rep. Ritchie Torres (D-NY) recently <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/ritchietorres.house.gov\/posts\/rep-ritchie-torres-introduces-the-campaign-funds-integrity-act-of-2026\" type=\"link\" id=\"https:\/\/ritchietorres.house.gov\/posts\/rep-ritchie-torres-introduces-the-campaign-funds-integrity-act-of-2026\">introduced legislation<\/a> that would prohibit federal campaign funds from being used on prediction market wagers.<\/p>\n<p class=\"wp-block-paragraph\">Other Democrats are pushing for broader restrictions. Rep. Jamie Raskin (D-MD) and Sen. Jeff Merkley (D-OR) have proposed legislation banning prediction markets tied to politics, sports, and military conflicts.<\/p>\n<p class=\"wp-block-paragraph\"><strong><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/4523452\/prediction-markets-regulations-sports-gambling\/\" type=\"link\" id=\"https:\/\/www.washingtonexaminer.com\/news\/4523452\/prediction-markets-regulations-sports-gambling\/\">HOW ARE PREDICTION MARKETS REGULATED DIFFERENTLY THAN SPORTS GAMBLING?<\/a><\/strong><\/p>\n<p class=\"wp-block-paragraph\">Selig has continuously defended the federal government\u2019s role in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/futures-markets-and-crypto-high-on-agenda-of-agencys-new-leader\/\" title=\"Futures markets and crypto high on agenda of agency&#039;s new leader\">regulating prediction markets<\/a>. <\/p>\n<p class=\"wp-block-paragraph\">\u201cStates cannot circumvent the clear directive of Congress,\u201d Selig said in an <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/9220-26\" type=\"link\" id=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/9220-26\">April statement announcing<\/a> a lawsuit against Wisconsin. \u201cOur message to Wisconsin is the same as to New York, Arizona, and others: if you interfere with the operation of federal law in regulating financial markets, we will sue you.\u201d<\/p>\n<\/div>\n<\/article>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trump backs CFTC control over prediction markets amid state vs. federal fight<\/p>\n","protected":false},"author":4195,"featured_media":2607140,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/05\/AP26106782911844.jpg?w=696","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[64356,12577,44418,5270,3634],"class_list":["post-2607139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-cftc","tag-cryptocurrency","tag-prediction-markets","tag-regulation","tag-trump"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/05\/AP26106782911844.jpg?w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2607139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/4195"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2607139"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2607139\/revisions"}],"predecessor-version":[{"id":2607143,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2607139\/revisions\/2607143"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2607140"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2607139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2607139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2607139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}