President Trump just defended federal oversight of ‘prediction markets’ like PolyMarket via the CFTC (U.S. Commodity Futures Trading Commission), and called out “SCUM” Democrats and RINOS for trying to kill these ‘prediction markets’ at the state level.
Here’s what he wrote:
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. We cannot have SCUM like Chris Christie, Letitia James, Tim Walz, and JB Pritzker setting the rules! Other Countries are after this new form of Financial Market, and we want to remain at the top.
Likewise, and even more importantly, where we are currently the Crypto (Bitcoin, etc.) Capital of the World, other Countries are trying diligently to replace us in that capacity, but we won’t let that happen. It is a major Industry, and we must protect it. Mike Selig, CFTC Chairman, and respected by all, is doing a great job. Thank you Mike! President DONALD J. TRUMP
I think this post is aimed at the courts, where the real battle for and against federal oversight of these prediction markets is being waged. The CFTC defends these prediction markets as a derivative, meaning they are not illegal gambling. States are trying to shut them down with the argument that they are ‘illegal gambling’.