Trump attacks US states’ regulation of prediction markets

In a fiery outburst, President Donald Trump lambasted state efforts to regulate prediction markets, insisting that the federal government must retain authority over these emerging platforms. This comes amid growing concerns about the potential for addiction and misuse among users of prediction markets like Kalshi and Polymarket. The President's remarks, delivered during a press conference on 26 May 2026, highlight a significant tension between state regulation and federal oversight in the evolving landscape of online gambling and prediction markets.

For more details, check out the full article on The Guardian.

Prediction markets have surged in popularity, allowing users to place bets on the outcome of various events, from political elections to sports outcomes. The platforms have emerged as a blend of gambling and investment, drawing both interest and scrutiny. Recently, states like California and New York have taken steps to impose regulations on these markets, citing concerns over their addictive nature and the potential for financial harm to consumers. Trump's opposition to state regulations suggests he believes that a uniform federal approach is necessary to protect consumers while fostering innovation in this new sector.

"A spokesperson for the White House confirmed in a 26 May statement: 'The President believes that a cohesive regulatory framework at the federal level is essential to manage the risks associated with prediction markets.'"

What this means for non-Gamstop UK players

If you’re a UK player who enjoys prediction markets or similar platforms, pay close attention to how regulatory changes in the US could influence global trends. While prediction markets aren't as prevalent in the UK, the potential for similar platforms to emerge is real. If you've been hit by a Section 7 cap, this matters because increased scrutiny in the US might lead to tighter regulations here as well. Players should remain vigilant about where they place their bets and ensure that they’re engaging with reputable operators, especially as regulations evolve. Being informed about the landscape can help you avoid any pitfalls that come with new market entrants.

The counter-take

While Trump's statements reflect a strong stance on federal regulation, it's worth noting that £273,000 sounds large but ranks as a small figure when considering the broader context of gambling revenues. Many states are eager to use the potential tax revenue from these markets while protecting their citizens. The push for regulation is not just about control; it's also about ensuring that players can engage safely. As states and the federal government grapple with these issues, the outcome may shape the future of online gambling and prediction markets, potentially paving the way for more inclusive and safer platforms.

As the landscape of prediction markets and online gambling continues to evolve, it's crucial for players to stay informed. Check out our guides on /best/prediction-markets or /casinos for more insights on where to safely place your bets.