{"id":2962,"date":"2026-06-03T08:50:20","date_gmt":"2026-06-03T08:50:20","guid":{"rendered":"https:\/\/www.bettingjobs.com\/?p=2962"},"modified":"2026-06-03T08:50:20","modified_gmt":"2026-06-03T08:50:20","slug":"nice-n-sleazy","status":"publish","type":"post","link":"https:\/\/www.bettingjobs.com\/bettingjobs-complianceandmore-partnerships\/nice-n-sleazy\/","title":{"rendered":"Nice \u2019n\u2019 sleazy"},"content":{"rendered":"<p><strong>This is my truth tell me yours:<\/strong> President Donald Trump weighed in on the side of the Commodity Futures Trading Commission (CFTC) in the debate over whether the federal authority should have jurisdiction over prediction markets and labeled those that believe the states should have precedence as \u201cscum.\u201d<\/p>\n<ul>\n<li>Via a <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116642964849373081\">Truth Social post<\/a>, Trump said it was \u201ccritically important that the CFTC\u2019s exclusive authority over Prediction Markets is maintained, and that they will thrive.\u201d<\/li>\n<li>\u201cUnder my leadership, we are setting \u2018rules of the road\u2019 that are the Gold Standard for the States.\u201d<\/li>\n<\/ul>\n<p><strong>Scum dancing;<\/strong> In response to the various legal actions taken by the states, Trump ranted that \u201cwe cannot have SCUM like Chris Christie [ex-Governor of New Jersey], Letitia James [New York AG], Tim Walz [Governor of Minnesota], and JB Pritzker [Gov. of Illinois] setting the rules!\u201d<\/p>\n<ul>\n<li>Back in April, James was among the bipartisan group of 38 state AGs that filed an amicus brief supporting Massachusetts\u2019 case against Kalshi.<\/li>\n<li>In Minnesota, meanwhile, the Trump administration has <a href=\"https:\/\/complianceandmore.substack.com\/i\/198670035\/minnesota-legals\">sued the state<\/a> over its new prediction market ban, arguing the law is preempted by federal law.<\/li>\n<li>Similarly, the CFTC is also suing Illinois, among other states that have attempted to move against prediction markets.<\/li>\n<\/ul>\n<p><strong>Rattle, rattle, goes the bullet round and round the roulette wheel: <\/strong>Trump\u2019s latest comments appear to mark an abrupt repositioning compared to what he said in the wake of the Gannon Ken Van Dyke and Maduro markets insider-trading scandal, when he suggested \u201cthe whole world, unfortunately, has become somewhat of a casino.\u201d<\/p>\n<ul>\n<li>\u201cAnd you look at what\u2019s going on all over the world, in Europe and every place, they\u2019re doing these betting things,\u201d he added.<\/li>\n<li>\u201cI was never much in favor of it. I don\u2019t like it conceptually, but it is what it is.\u201d<\/li>\n<li>\u201cNo, I think that I\u2019m not happy with any of that stuff. But they have all these different sites. They have predictive markets. It\u2019s a crazy world. It\u2019s a much different world than it was.\u201d<\/li>\n<\/ul>\n<p><strong>Top of the world:<\/strong> In his latest post, the President went on to claim that \u201cOther Countries are after this new form of Financial Market, and we want to remain at the top.\u201d<\/p>\n<ul>\n<li>\u201cLikewise, and even more importantly, where we are currently the Crypto (Bitcoin, etc.) Capital of the World, other Countries are trying diligently to replace us in that capacity, but we won\u2019t let that happen.\u201d<\/li>\n<li>\u201cIt is a major Industry, and we must protect it. Mike Selig, CFTC Chairman, and respected by all, is doing a great job.\u201d<\/li>\n<\/ul>\n<p><strong>Spanish practices:<\/strong> Trump\u2019s fears about \u2018other countries\u2019 might be somewhat overstated. Just last week, the Spanish gambling authority issued a temporary ban on Kalshi and Polymarket as it launched an investigation into whether the pair are offering gambling without a license.<\/p>\n<ul>\n<li>The Direcci\u00f3n General de Ordenaci\u00f3n del Juego claimed both platforms are offering unlicensed online gaming products in the country and will conduct reviews over the next four months.<\/li>\n<li>If the regulator confirms its claims through the reviews, Kalshi and Polymarket will face permanent bans.<\/li>\n<li>Both platforms will have the option to seek gaming licenses or appeal the decision if the claims are confirmed.<\/li>\n<li>Spain follows in the wake of France, Belgium, Portugal, Hungary and Switzerland, which all have full bans in place, while Italy and Germany have trading restrictions under regulatory review.<\/li>\n<li>In the UK, the Gambling Commission has previously said that it was likely prediction markets would need a gambling license in order to operate.<\/li>\n<\/ul>\n<p><strong>Hand on the tiller: <\/strong><em>The New York Times<\/em> <a href=\"https:\/\/www.nytimes.com\/2026\/05\/24\/us\/how-prediction-markets-and-crypto-firms-steamrolled-a-watchdog-agency.html?searchResultPosition=1\">last weekend<\/a> revealed that two CFTC officials who raised questions about Polymarket and Crypto.com had been placed on indefinite leave.<\/p>\n<ul>\n<li>The paper noted that in the first 16 months of the Trump II administration, the CFTC has also shrunk its work force, sharply curtailed crypto enforcement and \u201chelped out prediction markets at virtually every turn.\u201d<\/li>\n<li>It also highlighted the explicit links between the Trump family and prediction markets operators, including Polymarket where Don Jr. is an investor.<\/li>\n<\/ul>\n<p><strong>Under notice: <\/strong>Separately, the White House is reviewing a new CFTC proposal that would lay out guidelines for event contracts. The measure is seen as being the latest move on the part of the agency to mark its turf as it battles with states over who gets to regulate the exploding prediction markets.<\/p>\n<ul>\n<li>According to a <a href=\"https:\/\/www.reginfo.gov\/public\/do\/eoReviewSearch\">notice posted<\/a> by the Office of Management and Budget, the plan is under review.<\/li>\n<li>The notice did not include any details about what\u2019s in the proposal, which would be subject to public comment.<\/li>\n<\/ul>\n<div><\/div>\n<div><a href=\"https:\/\/complianceandmore.substack.com\/p\/nice-n-sleazy\">Like what you are reading? CLICK here to read the FULL article!<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>This is my truth tell me yours: President Donald Trump weighed in on the side of the Commodity Futures Trading Commission (CFTC) in the debate over whether the federal authority should have jurisdiction over prediction markets and labeled those that believe the states should have precedence as \u201cscum.\u201d Via a Truth Social post, Trump said&hellip;<\/p>\n","protected":false},"author":13,"featured_media":2964,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","footnotes":""},"categories":[25],"tags":[],"class_list":["post-2962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bettingjobs-complianceandmore-partnerships"],"acf":[],"post_author_name":"","post_authors_type":"","post_authors_from_team_members":false,"_links":{"self":[{"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/posts\/2962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/comments?post=2962"}],"version-history":[{"count":1,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/posts\/2962\/revisions"}],"predecessor-version":[{"id":2965,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/posts\/2962\/revisions\/2965"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/media\/2964"}],"wp:attachment":[{"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/media?parent=2962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/categories?post=2962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/tags?post=2962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}