US Edition
Trump administration backs Kalshi, Polymarket as states move to ban prediction markets
The Commodity Futures Trading Commission argues its federal oversight permits Kalshi and Polymarket to operate nationwide despite state lawsuits alleging unlicensed gambling.
- The Trump administration supports prediction market operators Kalshi and Polymarket, which are being sued by states alleging illegal gambling.
- The Commodity Futures Trading Commission's chairman says the agency will not allow states to undermine its jurisdiction over prediction markets.
- Kalshi and Polymarket allow customers to wager on events like sports and current affairs by buying probability-based contracts.
42 Articles
42 Articles
Republicans turn on Trump czar over prediction market power grab: 'Destroying lives!'
An industry-beloved financial regulator appointed by President Donald Trump is declaring war on states' ability to regulate a growing class of gambling companies — and even Republican state officials are pushing back.The issue concerns so-called prediction markets, which allow people to "trade futures" on the probability of various events occurring. The overwhelming bulk of their trading volume involves sporting events. These companies, like Pol…
Trump administration backs Kalshi and Polymarket in big legal fight over U.S. betting rules
The U.S. government is backing prediction market platforms in a major legal fight with several states. The dispute is about who should control these online betting-style markets — federal regulators or state gambling authorities. The outcome could change how sports betting, online prediction trading, and digital event contracts are regulated across the country in the future.
CFTC to states: hands off prediction markets
The NewsState officials have filed two dozen suits against prediction market operators, trying to protect traditional casino revenue and stop underage gambling. The Trump administration’s message to them: Drop dead.The Commodity Futures Trading Commission on Tuesday filed a legal brief in support of Crypto.com, which alongside Kalshi and Polymarket is being sued by Nevada for allegedly operating unlicensed sportsbooks. CFTC Chair Michael Selig s…
Coverage Details
Bias Distribution
- 63% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
