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Trump changes tune on prediction markets 🎶

Trump changes tune on prediction markets 🎶

The U.S. president walked back earlier criticisms of prediction markets, saying that "very smart" people support the industry.

Stephen Graves
April 27, 2026

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📝 What you need to know

U.S. president Donald Trump has walked back his earlier criticism of prediction markets, saying he wasn’t sure where he stood on the subject and that “very smart” people believe the sector warrants support.

Trump’s volte face comes just days after he told reporters he was “never much in favor” of the nascent industry. At the time, he said they have played a part in turning the world into “somewhat of a casino,” after a U.S. soldier was charged with using classified information to make bets on the removal of Venezuelan president Nicolás Maduro.

His change of heart might owe something to his son, Donald Trump Jr., who serves as an advisor to both Polymarket and Kalshi. Who could’ve predicted, eh?

Trump Walks Back Prediction Market Criticism, Says 'Smart People' He Knows Like Them

Trump said last week he didn’t like prediction markets, but then changed his tune, arguing the U.S. should not get left behind in the space.

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