Donald Trump · New York · Supreme Court · The Block
Trump said in a Truth Social post Tuesday that it was " critically important " that the CFTC has exclusive
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TD Cowen said Trump's support for the CFTC's authority over prediction markets was not surprising.
Key facts
- That suggests the bigger legislative risk may come in 2027 or later, even if there are political headlines this year, Seiberg said at the time
- President Donald Trump's public support for the Commodity Futures Trading Commission's position on prediction markets is unlikely to change the broader legal fight over event contracts, according
- Trump said in a Truth Social post Tuesday that it was " critically important " that the CFTC has exclusive authority over prediction markets
- Notably, the White House is reviewing a new CFTC proposal that would establish guidelines for prediction markets and event contracts
Summary
President Donald Trump's public support for the Commodity Futures Trading Commission's position on prediction markets is unlikely to change the broader legal fight over event contracts, according to investment bank TD Cowen. Trump said in a Truth Social post Tuesday that it was " critically important " that the CFTC has exclusive authority over prediction markets. "We have always assumed that President Trump was backing CFTC Chair Michael Selig's advocacy for prediction markets including his contention that states lack the power to block event contracts on sporting events," Jaret Seiberg, managing director at TD Cowen's Washington Research Group, said in a note on Wednesday. Seiberg also noted that Trump's post appeared aimed more at defending Selig following a recent New York Times investigative report into the CFTC's handling of crypto and prediction markets than at materially shifting policy.