President Donald Trump has publicly endorsed CFTC Chair Michael Selig's effort to expand the regulator's jurisdiction over prediction markets, a move that could reshape oversight of platforms like Polymarket. Selig has been pushing for the Commodity Futures Trading Commission to assert formal authority over event-based contracts, arguing the space has grown too large to remain loosely regulated. Trump's backing is significant because it signals White House support for a regulatory land-grab that could either legitimize prediction markets or introduce new compliance burdens. The endorsement comes as prediction markets have surged in popularity, particularly following the 2024 election cycle, drawing scrutiny from lawmakers and financial regulators alike. Expanded CFTC oversight could set binding rules on what events are tradeable and who can participate.
— Sponsored —
Trade smarter on BYDFI
Get a bonus on your first deposit — from $50 at $100, up to $2,000 at $20k. 200x leverage, 600+ perpetuals, deep liquidity.