U.S. President Donald Trump dramatically changed his stance on prediction markets and the Commodity Futures Trading Commission’s (CFTC) authority, expressing support for the CFTC's exclusive jurisdiction.
President Trump, who previously stated he was 'never much in favor' of prediction markets, endorsed the CFTC's position in a post on his Truth Social platform. This shift in perspective comes weeks after his initial negative stance on the platforms.
Trump's backing of the CFTC's authority marks a significant reversal in his position on prediction markets, indicating a newfound support for the regulatory body's role in overseeing such platforms.
