Polymarket & Kalshi: How Trump Rigged The Prediction Markets

Trump Boosts Prediction Markets as His Family Profits

• “Trump and his family are making tons of money off these new prediction markets—and so of course he is leading the charge against consumer protections.”
• Trump, whose administration is considered the most brazenly corrupt in US history, argued that the Commodity Futures Trading Commission (CFTC) must have “exclusive authority” over prediction market regulations, declaring that “it is a major industry, and we must protect it.”
• CFTC chief, Mike Selig said that the agency would fight any state-level efforts to restrict prediction markets. - Common Dreams
• Donald Trump Jr. is a paid strategic advisor to Kalshi, sits on Polymarket's advisory board, and invested a double-digit-million-dollar sum through his venture firm 1789 Capital. - Crypto Times

Follow the money

• Trump used his social media platform to boost prediction markets— from which Trump’s family stands to profit—and lashed out at state leaders working to regulate them, singling out officials in Illinois, New York, and elsewhere as “scum.”
• Trump administration is considered the most brazenly corrupt in US history, argued that the Commodity Futures Trading Commission (CFTC) must have “exclusive authority” over prediction market regulations, declaring that “it is a major industry, and we must protect it.” The president’s message echoed that of his CFTC chief, Mike Selig, who said earlier this year that the agency would fight any state-level efforts to restrict prediction markets.
• The New York Times reported last month that Trump’s “publicly traded media company unveiled its own prediction market product last year. And the president’s eldest son, Donald Trump Jr., has ties to two of the industry’s top firms, including Polymarket, the platform that prosecutors say was used by the soldier for well-timed bets.” - Common Dreams

TakeAway: Call your MAGA rep: Stop the Trump family grift.

Deepak
DemLabs

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