White House Reviews CFTC Plan for Prediction Market Oversight
A filing shows the White House is reviewing a Commodity Futures Trading Commission proposal to regulate prediction markets. The plan would give the federal agency exclusive authority over the sector.
cnet.comA proposal giving the Commodity Futures Trading Commission authority to regulate prediction markets is under review at the White House, according to a Tuesday filing. The filing, which is being examined by the Office of Management and Budget, does not disclose details of the proposal. CNBC requested comment from the CFTC and two prediction market platforms named in the filing.
Selig stated on January 29 that the agency would write rules for prediction markets after withdrawing a proposal that would have barred contracts on sports and politics. The agency has maintained in public statements and court filings that it holds exclusive regulatory authority over prediction markets rather than individual states.
Tuesday, President Donald Trump posted on social media that maintaining the CFTC's exclusive authority over prediction markets is critically important. Trump added that the United States should set the standards for this financial market and remain ahead of other countries.
The filing was submitted the same day as the social media post. Several state officials have taken separate actions regarding prediction market contracts on sports outcomes.
Key Facts
Story Timeline
3 events- January 29, 2026
CFTC Chairman Michael Selig said the agency would write rules for prediction markets.
1 sourceCnbc - May 26, 2026
White House filing shows review of CFTC proposal for prediction market regulation.
1 sourceCnbc - May 26, 2026
President Donald Trump posted that CFTC exclusive authority over prediction markets should be maintained.
1 sourceCnbc
Potential Impact
- 01
Federal rules could replace separate state regulations on prediction market contracts.
- 02
Platforms may face uniform federal compliance requirements instead of varying state rules.
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