The White House Office of Information and Regulatory Affairs (OIRA) has received the proposed rules for prediction markets submitted by the CFTC and has entered the review process. Over the past year, the CFTC has consistently claimed "exclusive jurisdiction" over prediction markets and has sued states such as Wisconsin, Illinois, Arizona, Connecticut, and New York to prevent them from restricting platforms like Kalshi and Polymarket.

Recently, Trump publicly supported CFTC Chair Michael Selig, stating that prediction markets being exclusively regulated by the CFTC is "extremely important." The current core dispute is whether prediction markets should be regarded as event contracts under federal regulation or be subject to state gambling and sports betting laws. (The Block)