President Donald Trump publicly defended the Commodity Futures Buying and selling Fee’s (CFTC) unique authority over prediction markets, framing the regulatory turf warfare as central to holding america forward of international rivals in finance and crypto.
On Might 26, Trump warned that rival nations wish to displace the US as the worldwide Bitcoin (BTC) capital. He added that prediction markets, a fast-growing asset class nonetheless being outlined, face the identical competitors.
The CFTC’s Prediction Markets Push
Trump’s submit praised CFTC Chairman Mike Selig straight, thanking him for steering the company’s increasing authority over occasion contracts. To not point out, Selig is the only sitting commissioner of the usually five-seat CFTC.
The framing locations prediction markets alongside Bitcoin as industries the place regulatory readability might determine whether or not the US retains its lead. Kalshi was valued at $22 billion in a Might 2026 funding spherical, signaling quick institutional adoption.
Month-to-month prediction market buying and selling volumes have surpassed $20 billion, up from roughly $1.2 billion in early 2025. But, prediction markets’ authorized standing stays unresolved throughout a number of states.
The submit named Chris Christie, Letitia James, Tim Walz, and JB Pritzker as “SCUM,” driving the federal-state regulatory battle.
James joined 38 state attorneys common in April, backing Massachusetts in its lawsuit towards Kalshi. The CFTC has filed instances towards Arizona, Connecticut, Illinois, New York, and Wisconsin. The company desires to dam state playing legal guidelines from reaching federally regulated venues.
Authorized observers anticipate the dispute to achieve the Supreme Courtroom. Till then, the business sits in regulatory limbo.
The submit Donald Trump Calls 4 State Leaders “SCUM” in Push to Hold US the Crypto Capital appeared first on BeInCrypto.