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Trump Softens Stance on Prediction Markets, Says America Cannot Be 'Left Out'
On April 28, according to Cointelegraph, U.S. President Trump softened his earlier stance on prediction markets, which he had expressed dislike for just days prior. Speaking to reporters in Florida, Trump stated, “Many other countries are engaging in prediction markets, and if the U.S. doesn’t, we will be left out.” He acknowledged that some “very smart people” are fond of this product. Previously, on April 24, Trump had responded that he was “not satisfied” with prediction markets, believing 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 both trading platforms reaching a record total trading volume of $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 had previously announced a partnership with Crypto.com to launch prediction market products on Truth Social.