Trump backs US prediction markets as states challenge sports contracts
By The Weekly Edge desk ·
Summary
Donald Trump expressed support for US leadership in prediction markets during White House remarks on 19 August, iGaming Today reported. State gambling regulators argue that sports contracts constitute betting requiring state licences, while platforms operate under CFTC oversight. The report cited Kennedy Forum estimates that sports account for 75%–90% of Kalshi’s trading volume and roughly half of Polymarket’s activity.
Why it matters
State regulators argue sports contracts require gambling licences, challenging platforms operating under CFTC oversight with substantial sports trading activity.