Trump admin sues states to stop regulation on prediction markets

This is like legalized insider trading for politicians right now.

Can't let those pesky gambling regulators trample all over his mid-level staffers' insider trading rackets.

So the Christian conservatives are all about gambling and being scammed? This is not even Newt Gingrich’s Republican Parry. Just dirty crooks in charge that genuinely do not give a rat’s ass about Americans or their future.

By coincidence, Don Jr is an advisor to both Kalshi and Polymarket

Oh wow I wonder why they would do this it couldn’t be a conflict of interest or anything..

So now we know that all of these these apparent insider "bets" that are being made are 1) rigged, and 2) endorsed by the highest government officials.

Australia is the most gambling addicted country in the world. Highest gambling losses per capita. New South Wales alone (not even all of Australia, just one state) has 38% of all s*** machines in the world. Thats to say nothing of sports betting, keno/lotteries, horse/greyhound racing, election betting... Politicians here are captured by the gambling lobby and the Feds are only just now putting some more regulations in place due to massive community support for it. **Learn from our mistakes, Americans. Regulate the f*** out of gambling.**

Hegseth and cronies want to keep winning their bets

“States’ rights!” they exclaim, until Trump gives them an excuse to exert his will over states

Can't kill the golden goose that your kids are f******, can we Donny?

The hypocrisy is baffling... You see, while Trump's corrupt government picks the pockets of the American people, deals in MASSIVE insider enrichment, and cryptocurrency and bribery schemes... While Donald Trump and his family monetize the presidency to the tune of BILLIONS, profit immensely off of his office and pursue lucrative business/real estate deals that would not be achievable without the political leverage that the presidency provides... While Trump, his closest allies and his cabinet members are using insider knowledge to make fat trades and wager on government action through prediction markets (Don Jr. sits in the board of Polymarket)... While the president is accepting lavish gifts, bribes, donations and investments from billionaires, foreign governments, CEOs, technocrats, corrupt criminals and overseas monarchs who are all seeking political and economic favors in return... While Trump is transforming the government into a kleptocratic dictatorship that is literally stealing from the poor to give to the rich and concentrating economic power and resources into the hands of a select few... While Trump is consolidating power under his justice department to sue his own government for over the top payouts to himself and his co-conspirators... While the entire Trump administration is plagued by rampant cronyism, corruption and conflicts of interest... While Trump is exploding the debt and deficit and wasting TRILLIONS of dollars on foreign wars, feckless government agencies created out of thin air, extravagant accomodations, birthday military parades, personal vanity projects, grotesque monuments to himself, excessive national security measures, and bailouts, subsidies, tax breaks and incentives for the rich and corporations... While all of this is going on, while Americans struggle financially because Trump has done F*** ALL to address systemic affordability issues and economic inequality, the White House has been focusing most of its attention on selling lies and propaganda to the public and blaming immigrants, minorities and marginalized groups of people for all of our nation's problems. People who have no financial, social, or political capital, and who are constantly the targets of harassment, violent threats, and political persecution from white nationalist groups and federal officials. The Trump regime is weaponizing every power and agency of the government and is scapegoating these communities of people to conceal this administration's failures, its impropriety, and the fact that the real "waste, fraud and abuse," is coming from inside the house—the *White House* that is. MAGA is always so conveniently inattentive to the wanton corruption of Donald Trump and his administration. Mind you, the DoD just spent $93.4 billion in a single month according to a non-partisan watchdog. This is the highest single month total in decades. And blindly defending this corrupt administration knowing that billions of taxpayer dollars went towards extravagant and needless accommodations completely undermines any cynical argument MAGA has ever made about the government's misuse of tax dollars. Oh, and while Trump claims that the war in Iran is "winding down" he is also simultaneously demanding $200 billion MORE to continue fueling operation epic failure. For perspective, we sent a total of $180 billion in foreign aid to Ukraine throughout Biden's entire term. The Republican party's culture wars and their attacks on immigrant and minority communities manage to divert attention away from this corruption. They are thrilled that their voters are focused squarely on these sensationalizing stories that appeal to feelings, not facts. Instead of paying heed to this level of corruption and greed, "waste, fraud and abuse," and instead of focusing on our growing economic inequality and divide, the massive debt, and all the wealth and resources that are being redistributed to the rich, conservatives are blaming this nation's problems on immigrants and minority communities, on the disadvantaged, the sick and the needy, on those without without wealth, power, and resources. Those who don't hold a candle to the crooked, rich and powerful few who pick our pockets to sustain their economic tyranny over the people.

Now we know who is behind all those mysterious oddly timed bets.

FYI the Trump family consults the prediction markets and clearly profits from it. The most blatant grifts of all their many, many grifts

Of course he did... literally everything Trump does hurts the average American & benefits himself.

I guess it's good to be fight over whether these markets should be allowed to exist, but the states are missing a huge opportunity to use the tools they already have. Instead of just arguing about jurisdiction, state attorneys general should be using the power they already have to investigate how these platforms actually function bts. This means looking into market manipulation, such as wash trading where a single wealthy user trades with themselves to create a fake sense of momentum or spoofing to trick others into betting a certain way on an event or insider betting which has obviously been going on. Beyond the finance side, states already have a major opening with age verification. which the right has already been using against adult sites. If investigators can prove that a platform is failing to keep kids under 21 off the site, they can go after them for violating basic state safety laws.

Stop calling them prediction markets. They are rigged gambling sites.

Why is the executive doing this? Shouldn’t Kalshi file the suit if it’s against the law? Why is my tax money paying lawyers to defend polymarket? Yes, I know it’s because the trump syndicate grifts off these platforms. But wtf man

The American people are so spineless it makes me wanna puke. They've allowed insanity to be normalized.

How else can his corrupt friends make good money with inside info? Stock gains are just a little pop. Please orange daddy. We need our fix

The Trump family is heavily involved in the prediction market industry. Jr. serves as an adviser to the two largest platforms, Polymarket and Kalshi. The family’s media company is planning its own prediction market product, "Truth Predict". I suppose the fact that they’re not even bothering to lie is the final insult.

I wonder why