PiCK
Trump Says CFTC Must Retain Exclusive Authority Over Prediction Markets, Vows US Will Remain Crypto Capital
Summary
- President Donald Trump said it was important to preserve the CFTC’s exclusive authority over prediction markets and support the industry’s growth.
- Trump described the US as the capital of crypto assets (including Bitcoin) and said he would not allow other countries to replace it.
- Market participants view the Trump administration as relatively friendly toward prediction markets and the crypto industry.
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President Donald Trump emphasized the need to preserve the Commodity Futures Trading Commission’s exclusive authority over prediction markets, reiterating his determination to keep the US at the forefront of the cryptocurrency industry.
In a Truth Social post on May 26, Trump wrote that it is “very important” for the CFTC to retain exclusive authority over prediction markets and for the industry to keep growing.
“The US is currently the capital of crypto assets, including Bitcoin,” he wrote. “Other countries are trying to take that away, but we’re not going to let that happen.”
He added that the crypto industry is “a very important industry” and must be protected.
Trump also praised CFTC Chairman Mike Selig, calling him respected by everyone and saying he is doing a great job.
The remarks came as the CFTC has been clashing with some US states over regulatory authority for prediction markets. Market participants view the Trump administration as relatively friendly toward both prediction markets and the crypto industry.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
