Trump backs federal CFTC authority over prediction markets, praises bitcoin amid state-federal legal clash
President Trump backed exclusive CFTC oversight of prediction markets in a Truth Social post, amid legal fights over platform regulation [5][2].
President Donald Trump said it was “critically important” that the Commodity Futures Trading Commission have exclusive authority over prediction markets, echoing CFTC Chair Michael Selig in a Truth Social post [1] [2] [3].
The endorsement comes as operators such as Kalshi and Polymarket face mounting legal pressure and a fresh clash has emerged between state officials and the CFTC over which level of government should regulate the fast‑growing sector [4] [2] [1].
In the same post Trump also defended bitcoin and praised CFTC leadership, framing the issue within broader federal oversight priorities for crypto markets [3] [1].
The dispute over whether prediction markets are governed by state regulators or the CFTC has intensified as related court cases and enforcement actions continue to proceed [2] [1].
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Citations
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- 1Trump praises prediction markets, defends CFTC as court cases compoundCoinDesk• May 26, 2026
- 2Trump’s prediction market push sparks fresh state authority clashcrypto.news• May 26, 2026
- 3Trump Defends Prediction Markets and Bitcoin in Truth Social Post Praising CFTC’s SeligBitcoin.com News• May 27, 2026
- 4Breaking: Trump Pushes To Protect CFTC Control of Prediction MarketsCoinGape• May 27, 2026
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