Trump backs CFTC authority over prediction markets amid state challenges
President Donald Trump said the Commodity Futures Trading Commission should have sole authority over prediction markets and that state regulators should not interfere, according to reports. The coverage also says Minnesota enacted a law intended to block prediction-market operators, while federal authorities responded with legal action asserting federal authority. Kalshi and Polymarket maintain that they operate as federally regulated exchanges, not gambling businesses.
The federal-state dispute could determine whether prediction-market operators face state gambling restrictions.