#federal-preemption

#federal-preemption

Prediction markets like Kalshi and Polymarket have a powerful new ally: the Trump administration. Commodity Futures Trading Commission Chairman Michael Selig, the country's top federal regulator of prediction markets, came out hard in favor of prediction markets in a video posted to X on Tuesday. "Today, the CFTC is taking an important step to ensure that these markets have a place here in America," Selig said.

"California's policies have slowed American commerce long enough," Rep. Randy Weber (R-Texas) said in a post on the social media platform X announcing the bill.

Mortgage industry trade groups lauded the order. CHLA commends the Trump Administration for yesterday's Executive Order that will help maximize the full capabilities of Artificial Intelligence (AI), said Scott Olson, executive director for the Community Home Lenders of America (CHLA). Individual Mortgage Banks are already gaining efficiencies through the use of AI and avoiding a patchwork of 50 different state laws is crucial to those efforts.