The political fight over prediction markets is heating up

CFTC Chairman Michael Selig is siding with prediction markets in their ongoing legal battles with state regulators.

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• The Trump administration is coming out swinging on the side of prediction markets.
• The top federal regulator is seeking to protect the companies from state-level regulation.
• That's generating blowback, including from some in the GOP.

Prediction markets like Kalshi and Polymarket have a powerful new ally: the Trump administration.