“The whole world, unfortunately, has become somewhat of a casino,” said former casino tycoon and current President Trump. “And you look at what’s going on all over the world in Europe and every place, they’re doing these betting things,” he said, referring to a continent where at least ten countries have broadly banned prediction markets as unlicensed gambling websites even as the federal regulator he appointed embraces them and sues states that try to apply oversight via their existing gambling laws. “I don’t like it, conceptually, but it is what it is. No, I think that I’m not happy with any of this,” said the man whose own social media platform has announced plans to launch a crypto-based prediction market feature and whose son is an adviser and investor in Polymarket and a paid adviser to Kalshi.
Trump later backpedaled on his comments, arguing that the US risks being left behind by other countries that permit such platforms. “I know people that are in the prediction market business, and they’re pretty happy with it,” he added.13