Trump says maintaining CFTC jurisdiction over prediction markets is essential

U.S. President Donald Trump stated on social media on May 26 that it is crucial to maintain the U.S. Commodity Futures Trading Commission's (CFTC) exclusive jurisdiction over prediction markets, adding that they should be allowed to thrive. Trump noted that his administration is preparing rules that will serve as a standard for individual states, emphasizing that certain politicians, including Chris Christie, Letitia James, Tim Walz, and JB Pritzker, should not be the ones setting these regulations. The president also remarked that other countries are competing in this new financial market and that the U.S. must maintain its lead. He added that the U.S. is currently the global capital of cryptocurrency, such as Bitcoin, and will not allow other nations to take its place, calling it an important industry that must be protected.