Trump administration sues three states over attempts to regulate prediction markets

[BumRushDaShow]

Source: NPR

April 2, 2026 3:54 PM ET


The Trump administration on Thursday filed lawsuits against three states, arguing that the controversial prediction market industry should be solely regulated by the federal government, not by state gambling commissions.

The trio of legal actions against Illinois, Connecticut and Arizona is the furthest Trump officials have gone to try to override state laws and set the rules for a fast-growing industry that has run headlong into thorny questions about insider trading and profiting off war and suffering.

For months, Trump officials have voiced support for the prediction market industry, but experts say the federal suits represent a sharp escalation.

"This is not just telling the court what their views are, but trying to put a thumb on the scale for prediction markets," said Todd Phillips, a Georgia State University professor who focuses on financial regulation.

Read more: https://www.npr.org/2026/04/02/nx-s1-5771635/trump-cftc-kalshi-polymarket-lawsuits

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Links to SUITS (PDF viewer/PDF)s

ILLINOIS
https://www.documentcloud.org/documents/27988795-cftc-v-illinois/
https://s3.documentcloud.org/documents/27988795/cftc-v-illinois.pdf

CONNECTICUT
https://www.documentcloud.org/documents/27988917-connecticut/
https://s3.documentcloud.org/documents/27988917/connecticut.pdf

ARIZONA
https://www.documentcloud.org/documents/27989075-cftc-v-arizona/
https://s3.documentcloud.org/documents/27989075/cftc-v-arizona.pdf

[Bristlecone]

1. Gee, I wonder why this administration has such a keen interest in this

(Rhetorical)

[tanyev]

2. How dare they try to regulate Don Jr. and Eric's cash cow!

I mean, do either one of them look like they are capable of real work?


🤨

[snot]

3. What bugs me about it

is that small-time speculators have to eat their losses, but when the "Masters of the Universe" on Wall St. get (or make) things wrong, they get bailed out.