TechFlow News, May 27: Trump stated that maintaining the Commodity Futures Trading Commission’s (CFTC) exclusive jurisdiction over prediction markets is critical—and that these markets must thrive. Under my leadership, we are establishing “rules of the road” that will serve as the gold standard for states nationwide. Other countries are eyeing this emerging financial market, and the U.S. intends to retain its global leadership position. Equally important, the U.S. is currently the world’s capital for cryptocurrency (e.g., Bitcoin), and other nations are aggressively attempting to displace us in this domain—but that will not happen. This is a vital industry, and we must protect it. CFTC Chair Mike Selig is widely respected, and he is doing an outstanding job.
