Trump wades into GOP fight over prediction markets

Link copied by Miranda Nazzaro and Julia Shapero - 06/01/26 5:17 PM ET Link copied {beacon} President Trump is throwing his weight behind an effort to block state restrictions on prediction markets, as federal and state regulators vie for authority over the platforms in a legal dispute that has divided the GOP. The Commodity Futures Trading Commission (CFTC) has brought cases against more than half a dozen states over their efforts to rein in prediction markets since April, arguing it has exclusive jurisdiction to regulate the sites. But many Republicans, particularly at the state level, aren t on board with this approach. Trump argued Tuesday it is critically important for the CFTC to have exclusive authority over prediction markets, declaring his administration is setting rules of the road that are the Gold Standard for the States. We cannot have SCUM like Chris Christie, Letitia James, Tim Walz, and JB Pritzker setting the rules! he continued in a Truth Social post, referring to multiple of his political foes. It marked a shift from his previous comments. Just a few weeks earlier, the onetime casino magnate suggested the whole world, unfortunately, has become somewhat of a casino. I was never much in favor of it, Trump said, when asked about insider trading concerns on prediction markets. The White House is reviewing a CFTC proposal to regulate prediction markets, though little is known about the potential rules in play. A filing last week with the Office of Management and Budget shows a proposed rule is under review but offers few details about the rule itself. Read more in a full report at TheHill.com Welcome to The Hill s Technology newsletter, we re Julia Shapero and Miranda Nazzaro — tracking the latest moves from Capitol Hill to Silicon Valley. Did someone forward you this newsletter? Subscribe here. How policy will be impacting the tech sector now and in the future: Hackers more focused on misleading voters than ballot tampering: Report Hackers and foreign influence operators are increasingly turning to misinformation campaigns to confuse and mislead voters rather than tampering with voting machines and ballots in the 2026 midterm elections, a new cybersecurity report found. The report, published Monday by cybersecurity firm Check Point Software, said attempts at phishing, impersonation and misinformation activity will be most prevalent this election cycle, … Florida attorney general files first-of-its-kind state lawsuit against OpenAI, Altman Florida Attorney General James Uthmeier (R) has filed suit against OpenAI, alleging the artificial intelligence firm and its CEO, Sam Altman, promoted a product they knew could harm users. The complaint, filed Monday, makes Florida the first state to sue OpenAI and Altman over the design of its products, including its landmark ChatGPT model. Uthmeier argues OpenAI has prioritized its profits, and asks the court to lessen and … Anthropic has confidentially filed paperwork with the Securities and Exchange Commission (SEC) to go public, the artificial intelligence (AI) company said Monday. The filing tees up what is expected to be a massive initial public offering (IPO) for Anthropic, as it competes with other AI firms looking to make their stock market debut in the coming months. This gives us the option to go public after the SEC completes its review, … US moves to close potential AI chip sales loophole The Trump administration is moving to close a potential loophole in U.S. export restrictions, clarifying that a license is needed to sell advanced AI chips to firms with Chinese parent companies even if they are not located in China or another restricted country. The Commerce Department on Sunday issued new guidance about a 2023 licensing rule, saying it had received questions about whether portions of the requirement are still … News we ve flagged from the intersection of tech and other topics: Branch out with other reads on The Hill: Nvidia bets on AI personal computers with new superchip powering Windows laptops TAIPEI, Taiwan (AP) — Nvidia on Monday unveiled new powerful chips that would bring advanced artificial intelligence functions into laptops and desktop computers, with the new personal computer models from brands including Microsoft and Dell set to roll out later this year. While Santa Clara, California-based Nvidia has already been massively successful in supplying high-end chips for data centers riding the worldwide AI demand … Opinions related to tech submitted to The Hill: Copyright 2026 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trump wades into GOP fight over prediction markets

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