politics
Trump wades into GOP fight over prediction market regulation
Key takeaways
- But many Republicans, particularly at the state level, aren’t on board with this approach.
- “I was never much in favor of it,” Trump said, when asked about insider trading concerns on prediction markets.
- “I don t like it conceptually, but it is what it is,” he continued. “No, I think that I m not happy with any of that stuff.
Why this matters: political developments that affect policy direction and public trust.
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 that his administration is “setting ‘rules of the road’ that are the Gold Standard for the States.”
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