Donald Trump Calls 4 State Leaders “SCUM” in Push to Keep US the Crypto Capital
President Donald Trump publicly defended the Commodity Futures Trading Commission’s (CFTC) unique authority over prediction markets, framing the regulatory turf struggle as central to conserving the United States forward of international opponents in finance and crypto.
On May 26, Trump warned that rival nations need to displace the US as the international Bitcoin (BTC) capital. He added that prediction markets, a fast-growing asset class nonetheless being outlined, face the similar competitors.
The CFTC’s Prediction Markets Push
Trump’s submit praised CFTC Chairman Mike Selig immediately, thanking him for steering the agency’s expanding authority over occasion contracts. Not to point out, Selig is the sole sitting commissioner of the sometimes five-seat CFTC.
The framing locations prediction markets alongside Bitcoin as industries the place regulatory readability might determine whether or not the US retains its lead. Kalshi was valued at $22 billion in a May 2026 funding spherical, signaling quick institutional adoption.
Monthly prediction market buying and selling volumes have surpassed $20 billion, up from roughly $1.2 billion in early 2025. Yet, prediction markets’ legal status stays unresolved throughout a number of states.
The submit named Chris Christie, Letitia James, Tim Walz, and JB Pritzker as “SCUM,” driving the federal-state regulatory battle.
James joined 38 state attorneys basic in April, backing Massachusetts in its lawsuit in opposition to Kalshi. The CFTC has (*4*), Connecticut, Illinois, New York, and Wisconsin. The company needs to block state playing legal guidelines from reaching federally regulated venues.
Legal observers anticipate the dispute to attain the Supreme Court. Until then, the business sits in regulatory limbo.
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