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Posted on 06/01/2026 4:21:16 AM PDT by RandFan
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 that his administration is “setting ‘rules of the road’ that are the Gold Standard for the States.”
“We cannot have SCUM like [former New Jersey Gov.] Chris Christie, [New York Attorney General] Letitia James, [Minnesota Gov.] Tim Walz, and [Illinois Gov.] JB Pritzker setting the rules!” he continued in a Truth Social post.
(Excerpt) Read more at thehill.com ...
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I have never actually put any money into it, but I think it’s just extending the ability to bet on things beyond sporting events and opening it up to elections, weather, entertainment awards, etc.
I guess the ultimate question is: does it count as interstate commerce?
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