Trump reverses tone on prediction markets after 'never much in favor' remark
US President Donald Trump has softened his stance on prediction markets, reversing earlier comments that he was 'never much in favor' of betting platforms. The shift comes shortly after Trump expressed dislike for the surging interest and popularity of the platforms. No specific prediction market operators — such as Kalshi, Polymarket, or others — were named in either his original criticism or his softened remarks. The reversal represents a notable change in tone from the president, though the exact catalyst for the shift and any potential policy implications remain unspecified in available accounts.
The softened rhetoric removes a potential federal antagonist from the field just as CFTC chair Brian Quintenz is weighing renewed rulemaking on event-based contracts, potentially easing political pressure on him ahead of summer 2026 deadlines.