President Donald Trump has broken his silence on the prediction market sector, arguing outright that anyone trying to litigate against companies from the sector was, not putting too fine a point on it, SCUM.
Try regulating prediction markets - the President will see you now
The President took to his characteristic loaded social media blasts, heavily criticizing several prominent figures who have taken an aggressive stance on the market, at a time when the Trumps are also looking to launch into the space with the Truth Predict platform, which is still being tested. Publishing on Truth Social, the President’s personal digital mouthpiece, to which he has taken in both expressing his victories and rueing his defeats. In a loaded statement, POTUS praised the CFTC’s regulatory efforts and begrudged people in power who have launched action against the sector. It is critically important that the CFTC’s exclusive authority over Prediction Markets is maintained, and that they will thrive. Under my leadership, we are setting ‘rules of the road’ that are the Gold Standard for the States. The President continued by enumerating the people whom he deemed responsible for trying to oppose the market and cause it disruptions, among which were Letitia James, New York’s AG, Chris Christie, a former ally, Tim Walz, the Governor of Minnesota, who recently signed a law banning and criminalizing prediction markets, Illinois Governor JB Pritzker, and others. President Trump proclaimed that the United States is also the Crypto (Bitcoin, etc) Capital of the World, and cautioned that while other countries have been trying to replace the United States’ preeminence in this sector, they were bound to fail on POTUS’ watch.
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