Trump Jr calls on Republican attorneys general to drop prosecutions against predictive markets
2026-08-28 13:17:30
According to CoinMeta, Trump called on Republican state attorneys general not to pursue legal issues regarding prediction markets, stating that various states are challenging the regulatory authorities of Kalshi, Polymarket, and CFTC. During an event, he claimed that state governments were influenced by gambling companies and were attempting to protect their "monopolies," and argued that prediction markets should be subject to federal regulation. These remarks have drawn attention because Trump has connections with Kalshi and Polymarket, serves as an advisor to Kalshi, and has invested in Polymarket through his venture capital company 1789. The attorney general of Arizona has filed 20 criminal charges against Kalshi for operating an unlicensed gambling business and illegally offering election betting. Massachusetts and New York have also taken legal action against Kalshi, accusing its prediction market activities of constituting illegal gambling. This controversy could completely transform the US prediction market industry: if federal regulation prevails, platforms will be able to operate nationwide; if states win, operators will face different gambling laws and licensing requirements.
Source:Coinpaper
This content is for market information only and does not constitute investment advice.
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