Trump Backs CFTC Authority Over Prediction Markets, Calls Crypto Protection 'Critically Important'

US President Donald Trump on May 27 stated that protecting cryptocurrency innovation is "critically important" for America in a Truth Social post. Trump defended the Commodity Futures Trading Commission (CFTC) and argued the agency should retain exclusive authority over prediction markets nationwide. He opposed fragmented state-by-state regulation, warning that such an approach could damage innovation and push financial technology overseas. Trump also emphasized that the United States must maintain its position as the "Crypto Capital of the World" against competing nations seeking to dominate the digital asset sector. His statement follows recent legal battles between federal regulators and several US states over prediction market oversight.
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