Trump Eases Stance on Prediction Markets Amid Legal Battles

U.S. President Donald Trump has moderated his criticism of prediction markets, a sector with a weekly trading volume exceeding $7 billion. According to NS3.AI, Trump expressed uncertainty about his position, acknowledging that some "very smart" individuals support the industry. This shift in tone comes just two days after he labeled the sector as part of a "casino." The comments arise as prediction market platforms face legal challenges regarding whether event contracts are subject to federal Commodity Futures Trading Commission (CFTC) regulations or state gambling laws.