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Trump Softens Stance on Prediction Markets, Says America Cannot Be 'Left Out'
On April 28, Cointelegraph reported that U.S. President Donald Trump softened his stance on prediction markets, which he had previously stated he did not like just days earlier. Speaking to reporters in Florida, Trump said, “Many other countries are doing prediction markets, and if the U.S. doesn’t, we will be left out.” He acknowledged that some “very smart people” like this product. Earlier, on April 24, Trump had expressed dissatisfaction with prediction markets, suggesting that “the whole world has become a bit like a casino.” Currently, the usage of prediction markets such as Polymarket and Kalshi has surged, with the total trading volume of the two platforms reaching a record $23.6 billion in March. Trump’s son, Donald Trump Jr., has invested in Polymarket and serves as an advisor, while also advising Kalshi. Additionally, Trump’s media company previously announced a partnership with Crypto.com to launch a prediction market product on Truth Social.