White House Reviews CFTC Proposal for Prediction Market Regulation
The White House is reviewing a proposal from the Commodity Futures Trading Commission (CFTC) to regulate prediction markets, such as Kalshi and Polymarket. The proposal, which is under review by the Office of Management and Budget, aims to establish federal oversight over these markets, which have been growing in popularity. The CFTC asserts its exclusive authority to regulate prediction markets, countering efforts by individual states to impose their own regulations. President Trump has publicly supported maintaining the CFTC's authority, emphasizing the importance of setting a 'Gold Standard' for regulation. The proposal comes amid legal challenges and state-level bans on prediction markets, highlighting the contentious nature of this emerging financial sector. 
