Trump pledges to protect the crypto industry and ensure prediction markets ‘thrive’

MarketsTrump pledges to protect the crypto industry and ensure prediction markets ‘thrive’The president insisted that the federal government alone has the authority to regulate event-contract platforms. But a growing number of states disagree.Listen to this article with a free account00:0000:00President Donald Trump delivers remarks during a Memorial Day ceremony with U.S. Vice President JD Vance and U.S. Secretary of War Pete Hegseth at Arlington National Cemetery in Arlington, Va. Kevin Dietsch / Getty ImagesShareAdd NBC News to GoogleMay 26, 2026, 7:59 PM EDTBy Kyla GuilfoilPresident Donald Trump on Tuesday stressed the importance of establishing the U.S. Commodity Futures Trading Commission’s “exclusive authority” over prediction markets and vowed to protect the cryptocurrency industry.Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.“It is critically important that the CFTC’s exclusive authority over Prediction Markets is maintained, and that they will thrive,” Trump wrote in a Truth Social post. “Under my leadership, we are setting ‘rules of the road’ that are the Gold Standard for the States.” “Other Countries are after this new form of Financial Market, and we want to remain at the top,” he said.“Likewise, and even more importantly, where we are currently the Crypto (Bitcoin, etc.) Capital of the World, other Countries are trying diligently to replace us in that capacity, but we won’t let that happen.”Trump’s vow to safeguard the interests of prediction markets and crypto followed a major investigation by The New York Times that was published Sunday. It revealed how the CFTC has helped advance prediction markets “at virtually every turn,” while also softening regulatory enforcement of digital currencies -- including by culling the commission’s ranks and sidelining career officials.Trump and his family have financial ties to both the prediction market industry and several lucrative crypto ventures, including...