White House · Polymarket · Donald Trump · The Information · The Block
White House starts review of CFTC’s prediction markets rulemaking as Trump backs agency authority
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The White House is reviewing proposed prediction market rules as President Donald Trump throws his support behind the Commodity Futures Trading Commission’s oversight of the industry amid growing resistance from states.
Key facts
- He publicly backed Selig, calling the issue "critically important" for the CFTC to have exclusive jurisdiction over prediction markets, while also criticizing former New Jersey Governor Chris
- Donald Trump Jr. invested in Polymarket through the venture capital firm 1789 Capital and is also a strategic advisor to Kalshi
- On Tuesday, the White House's Office of Information and Regulatory Affairs said it received the proposed rule from the CFTC, and said it is pending review, according to its website
- The Commission has transmitted its notice of proposed rulemaking on event contracts under Section 5c(c) of the Commodity Exchange Act to the Office of Information and Regulatory Affairs for review
Summary
On Tuesday, the White House's Office of Information and Regulatory Affairs said it received the proposed rule from the CFTC, and said it is pending review, according to its website. In an emailed statement to The Block, a CFTC spokesperson said the agency will say more once the OIRA's process is finished. "The Commission has transmitted its notice of proposed rulemaking on event contracts under Section 5c(c) of the Commodity Exchange Act to the Office of Information and Regulatory Affairs for review, consistent with the standard interagency process," the CFTC spokesperson said. The White House did not immediately respond to a request for comment.