Trump praises prediction markets, defends CFTC as court cases compound
Key takeaways
- Published May 26, 2026, 9:50 p.m. 3 min read Make preferred on President Donald Trump (Jesse Hamilton/Coin Desk)U.S.
- "Under my leadership, we are setting 'rules of the road' that are the Gold Standard for the States," he posted.
- Former New Jersey Governor Chris Christie has defended states' authority to regulate gambling products, which he likened to prediction markets, on various occasions.
President Donald Trump said it was "critically important" that the CFTC keep "exclusive authority" over prediction markets, echoing CFTC Chair Michael Selig.By Nikhilesh De|Edited by Aoyon Ashraf Updated May 26, 2026, 9:56 p.m. Published May 26, 2026, 9:50 p.m. 3 min read Make preferred on President Donald Trump (Jesse Hamilton/Coin Desk)U.S. President Donald Trump said it was "critically important" that the CFTC keep "exclusive authority" over prediction markets, echoing CFTC Chair Michael Selig in a post on Truth Social, his social media platform, late Tuesday afternoon.
"Under my leadership, we are setting 'rules of the road' that are the Gold Standard for the States," he posted. "We cannot have SCUM like Chris Christie, Letitia James, Tim Walz, and JB Pritzker setting the rules!"
Former New Jersey Governor Chris Christie has defended states' authority to regulate gambling products, which he likened to prediction markets, on various occasions.