Trump Defends Prediction Markets and Opposes State-Level Bans
Xenia Luch
27 May 2026
Comment 0
Pictured: Donald Trump
US President Donald Trump has publicly defended the prediction markets, saying regulation of such markets should remain at the federal level and be shielded from restrictions imposed by individual states. He made the statement in a post on his Truth Social platform.
Trump said the United States was the world’s cryptocurrency capital and that he would protect the industry from attempts by other countries to challenge US leadership in the sector.
His comments came amid an escalating legal dispute between the federal regulator, the Commodity Futures Trading Commission (CFTC), and authorities in several states.
In the post, the president openly backed CFTC Chairman Michael Selig and sharply criticised those pushing for state-level bans.
Trump used the word “scum” to describe several prominent Democratic politicians, including Minnesota Governor Tim Walz, Illinois Governor J.B. Pritzker and New York Attorney General Letitia James, as well as former Republican governor Chris Christie.
Donald Trump Jr., the president’s son, has ties to both leading prediction market platforms, Kalshi and Polymarket. Trump Media is also preparing to launch its own product under the Truth Predict brand.
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