The Trump administration doesn't want states regulating prediction markets

• The Trump administration's CFTC claims federal authority over prediction markets, challenging states attempting to regulate them as gambling.
• States like Massachusetts and Tennessee have accused prediction market companies (Kalshi, Polymarket, Crypto.com) of running unlicensed sports wagering operations.
• The companies and the Trump administration argue their offerings are not gambling, seeking to sidestep state gambling laws.
• Utah's Republican Governor, Spencer Cox, publicly challenged the CFTC's stance, calling prediction markets 'gambling—pure and simple.'

The video details a regulatory conflict between the Trump administration's CFTC and several U.S. states over prediction markets like Kalshi and Polymarket. The CFTC asserts federal authority, viewing these as derivatives, while states allege they operate as illegal sportsbooks. The outcome of these legal battles will determine the future regulatory landscape for the prediction market industry.