Republicans turn on Trump czar over prediction market power grab: 'Destroying lives!'

An industry-beloved financial regulator appointed by President Donald Trump is declaring war on states' ability to regulate a growing class of gambling companies — and even Republican state officials are pushing back.

The issue concerns so-called prediction markets, which allow people to "trade futures" on the probability of various events occurring. The overwhelming bulk of their trading volume involves sporting events. These companies, like Polymarket and Kalshi, have effectively made...