Trump Softens Stance on Prediction Markets as Global Growth Accelerates

US President Donald Trump has softened his stance on prediction markets after previously expressing concern over their rapid expansion. Speaking to reporters in Florida, Trump said the US could not afford to be “left out in the cold” as other countries expand adoption, signaling a more pragmatic view compared to his earlier criticism.

Just days earlier at the White House, Trump said he was “not happy” with prediction markets, describing them as part of a growing global trend toward casino-like financial behavior. He added that while he was not supportive “conceptually,” the expansion of such platforms worldwide made regulation unavoidable.

Prediction Markets See Record Growth and Political Attention

Prediction markets including Polymarket and Kalshi recorded a combined $23.6 billion in trading volume in March, highlighting rapid growth in event-based betting markets.

Political and business connections have also expanded. Donald Trump Jr. invested in Polymarket and joined its advisory board, while also advising Kalshi. Additionally, Trump Media & Technology Group announced plans in October to launch prediction markets in partnership with Crypto.com, integrating them into Truth Social.

Trump also transferred his stake in Trump Media to a trust managed by Donald Trump Jr. upon returning to office.