Trump: Supports CFTC's Exclusive Jurisdiction over Predictive Markets

According to The Block, the Office of Information and Regulatory Affairs (OIRA) under the White House Office of Management and Budget has stated that it has received proposed rules for forecasting markets submitted by the Commodity Futures Trading Commission (CFTC) and is currently under review. The CFTC spokesperson stated that more information will be released after the OIRA review is completed. CFTC Chairman Michael Selig advocates that predicting the market belongs to the "exclusive jurisdiction" of his agency and has filed lawsuits against five states. Trump expressed support for Selig on Tuesday, stating that the CFTC's exclusive jurisdiction over the prediction market is "crucial".