Trump pushes federal oversight to safeguard crypto and prediction markets

Trump urged the CFTC to maintain exclusive federal authority over prediction markets and protect the crypto industry, arguing the U.S. should remain at the top as other countries compete. The call follows a New York Times investigation criticizing the agency, and highlights ongoing federal-vs-state battles over regulation, including Minnesota’s ban on prediction markets and New York AG Letitia James’s suits against crypto firms. Trump also noted family ties to Kalshi and Polymarket, underscoring the political stakes.