CNBC
27 May 2026, 21:19 UTC · 2h ago
White House eyes CFTC proposal for regulating prediction markets
Source · https://www.cnbc.com/2026/05/27/prediction-markets-white-house-cftc-kalshi-polmarket-gensler.html
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CNBC
27 May 2026, 21:19 UTC · 2h ago
Source · https://www.cnbc.com/2026/05/27/prediction-markets-white-house-cftc-kalshi-polmarket-gensler.html
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Story key points
4 claims · impact-rated
President Donald Trump expressed strong support for the CFTC maintaining exclusive authority over prediction markets to ensure they thrive. — Direct executive support for a federal regulatory framework reduces the risk of a fragmented, state-by-state ban, providing a clear path for growth for platforms like Polymarket and Kalshi.
+0.80The White House and Office of Management and Budget are currently reviewing a CFTC proposal to regulate prediction markets. — The transition from proposed rules to active White House review suggests a formalization of the sector's legal status, reducing regulatory uncertainty.
+0.50Several US states are actively opposing federal oversight, with Minnesota banning prediction markets and New York pursuing legal action against platforms. — State-level bans and lawsuits create significant operational risks and legal hurdles for prediction market operators within those jurisdictions.
-0.40Former CFTC and SEC Chairman Gary Gensler claims the CFTC lacks the legal authority under the Dodd-Frank Act to regulate prediction markets. — Expert testimony suggesting a lack of legal authority increases the likelihood of a protracted legal battle ending in the Supreme Court, delaying market stability.
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Coinbase is facing a lawsuit from the New York Attorney General for allegedly running illegal gambling operations.
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