Summary
- President Donald Trump has softened some of his criticism of prediction markets.
- Trump said the US could fall behind if other countries move ahead with prediction markets and the US does not.
- Markets are interpreting Trump's remarks as a sign he is seeking a balance between regulation and acceptance of prediction markets, with any future policy direction change a key variable.
Forecast Trend Report by Period
President Donald Trump has eased some of his criticism of prediction markets, signaling a more flexible stance on regulation.
Trump told crypto media outlet Decrypt on April 27 that prediction markets are something "smart people I know also like."
The comment was softer than his remarks two days earlier, when he criticized prediction markets as turning "the world into a casino."
Asked whether policy could change, Trump did not answer directly. He said the US could fall behind if other countries adopt prediction markets and the US does not.
Markets are reading the remarks as a sign Trump is trying to strike a balance between regulating and accepting prediction markets. Whether that leads to a policy shift remains a key variable.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
