Trump Administration Backs Prediction Market Operators in States' Move to Ban Them

The Trump administration has backed prediction market operators Kalshi and Polymarket, as states increasingly move to ban the practice of betting on events before they occur, citing concerns about potential regulation and public policy implications. The administration's support comes amid a growing industry that operates outside traditional regulatory frameworks. The push for bans mirrors efforts in other jurisdictions, highlighting the need for clear guidelines on prediction markets. Kalshi and Polymarket face uncertain futures as the debate continues to unfold.