The CFTC faces increasingly severe legal challenges.
Trump stated that the government is developing a "roadmap" for the industry, referring to these rules as the "gold standard for states."
Meanwhile, the CFTC is battling multiple legal cases involving prediction markets. According to reports, the agency has filed lawsuits against Arizona, Connecticut, Illinois, New York, and Wisconsin.
Selig has repeatedly asserted that the CFTC has exclusive jurisdiction over prediction markets; however, some states argue that sports event contracts violate local gambling laws. As the market rapidly expands, this dispute intensifies. Reports indicate that the trading volume in prediction markets was nearing $1.2 billion at the beginning of 2025, and has now exceeded $20 billion monthly.
Prediction platforms draw attention.
At the same time, legal pressure on this sector is also mounting. In April, Massachusetts, along with 38 state attorneys general, including New York Attorney General Letitia James, filed a lawsuit against Kalshi.
Trump criticized James, Chris Christie, Tim Walz, and JB Pritzker in his statement, arguing that state officials should not interfere with national prediction market policies.
Trump reiterated his support for the crypto industry.
While discussing prediction markets, Trump also defended the cryptocurrency sector, calling it an "important industry" and asserting that the U.S. must protect it.