Trump said many smart people support the platforms and pointed out that other countries are adopting them. Platforms like Polymarket and Kalshi have grown very quickly, and recorded a combined $23.6 billion in March trading volume.
Trump Softens Criticism Prediction Markets
US President Donald Trump softened his position on prediction markets only days after criticizing their popularity. Speaking to reporters in Florida on Saturday, Trump said he was aware that many intelligent and influential people support the platforms. He added that other countries are embracing prediction markets and warned that the United States could fall behind if it chooses not to participate in the trend.
His latest comments were very different from the ones he made earlier in the week at the White House. On Thursday, Trump said he was “not happy” with prediction markets and suggested that the modern world had become too much like a casino.
He was very uncomfortable with the concept of betting platforms tied to real-world events, and said he had never been strongly in favor of them.
Prediction markets allow users to place wagers on the outcome of future events, ranging from politics and economics to sports and global affairs. Platforms like Polymarket and Kalshi have become very popular over the past year after attracting both mainstream interest and impressive trading activity.
According to Token Terminal, the two companies together recorded a combined $23.6 billion in trading volume during March alone.
Kalshi and Polymarket volumes over the past year (Source: Token Terminal)
Trump’s more moderate tone may also be encouraged by his family’s connections to the industry. Donald Trump Jr. invested in Polymarket in August and later joined the company’s advisory board. He also serves as an adviser to Kalshi, a rival prediction market platform, after taking on the role in January of 2025.
The Trump business network may soon be even more involved. Trump Media announced in October that it planned to launch prediction markets through a partnership with Crypto.com on Truth Social, the company’s flagship social media platform. Although Trump transferred his stake in Trump Media to a trust when he entered office, the trust is overseen by Donald Trump Jr. as sole trustee.
While Trump voiced concerns about gambling culture and speculative behavior, he also seems very aware of the economic and competitive opportunities prediction markets may present.
Source: https://coinpaper.com/16647/donald-trump-changes-tone-on-booming-prediction-markets
