- President Donald Trump stated his support for CFTC regulation of prediction markets.
- Many state lawmakers and senators have pushed for state regulation of prediction markets, but President Trump says the states shouldn’t have control over these markets.
- Illinois Governor JB Pritzker pushed back against Trump’s comments and supported his states’ efforts to regulate the markets.
WASHINGTON – U.S. President Donald Trump has joined the prediction market regulatory battle and is siding with the Commodity Futures Trading Commission. Amid numerous states pushing for localized regulation, Trump says prediction markets should be exclusively federally regulated by the CFTC.
pic.twitter.com/W4ZqJxO1KR— Rapid Response 47 (@RapidResponse47) May 26, 2026
President Trump stated his opinion on the matter on his Truth Social account, claiming that “It is critically important that the CFTC’s exclusive authority over Prediction Markets is maintained, and that they will thrive.”
The CFTC’s regulation of prediction market companies like Kalshi and Polymarket has been repeatedly questioned, most recently in a U.S. Senate subcommittee hearing on Wednesday. American Gaming Association President Bill Miller and Senator John Hickenlooper declared the CFTC as incompetent for regulating these markets, but President Trump wants to retain that federal regulation exclusivity.
Trump specifically names Tim Walz in his post, who recently signed a prediction market ban bill in Minnesota that prohibits specific contracts in the state like those for sporting events, war, legal actions, political outcomes, and more markets.
Governor Pritzker Responds To President Trump
Governor Pritzker defended his state’s decision to prevent insider trading via prediction markets in Illinois. Illinois is just one of many states to take action against prediction markets offering competing sports-related contracts in states with legal sports betting, and those without it.
Illinois took action to prevent and ban insider trading with online prediction markets in our state.
The most corrupt President in our nation’s history wants to make sure states like ours can’t regulate prediction markets so his family and administration can keep profiting. pic.twitter.com/JZyS3aqNfA— Governor JB Pritzker (@GovPritzker) May 26, 2026
“Illinois took action to prevent and ban insider trading with online prediction markets in our state. The most corrupt President in our nation’s history wants to make sure states like ours can’t regulate prediction markets so his family and administration can keep profiting.”
Pritzker believes Trump’s defense of federally-regulated markets is so that him and his family can continue to profit off of them. The president’s son, Donald J. Trump Jr., is an investor in Polymarket and an adviser to Kalshi.
