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May 27, 2026TrumpPoliticsRegulationPolymarketKalshiCFTC

Trump enters prediction market fight with swing at regulator's critics

Trump posted on Truth Social declaring it "critically important" that the CFTC maintain "exclusive authority" over prediction markets, directly calling out Democratic officials Chris Christie, Letitia James, Tim Walz, and JB Pritzker by name as "SCUM" who shouldn't be setting the rules. The clash centers on a fundamental jurisdictional dispute: Trump and the CFTC argue prediction markets should be regulated federally like commodities. At the same time, a growing coalition of state governors and attorneys general insist they're just gambling by another name and belong under state law, with Minnesota becoming the first state to outright ban them through legislation.

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