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The U.S. president said that he “was never much in favor” of prediction markets, as the latest insider trading case highlighted risks.
U.S. president Donald Trump said the world has become “somewhat of a casino” following the rise of prediction markets.
A U.S. soldier has been charged with using classified information to profit on Maduro-related bets.
Trump’s son, Donald Jr. serves as an advisor to prediction markets Polymarket and Kalshi.
U.S. President Donald Trump on Thursday said he wasn't happy about the growing influence of prediction markets, after U.S. authorities charged a soldier with exploiting classified information to place profitable bets tied to the removal of Venezuelan leader Nicolás Maduro.
“You know, the whole world, unfortunately, has become somewhat of a casino and you look at what’s going on all over the world in Europe and every place they’re doing these betting things. I was never much in favour of it,” he told reporters in the Oval Office.$BTC $ETH $XAU
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