TD Cowen says Trump’s CFTC prediction markets post unlikely to change legal fight
The Block
Investment bank TD Cowen asserts that Donald Trump's public support for the CFTC will not resolve the ongoing legal conflict over prediction markets.Summary
TD Cowen suggests that Donald Trump's recent social media support for the CFTC's authority over prediction markets is unlikely to impact the ongoing legal battle. Jaret Seiberg, a managing director at TD Cowen, views the post as a defensive gesture regarding CFTC Chair Michael Selig rather than a significant policy shift. Ultimately, the question of whether event contracts supersede state gambling laws remains a matter for the federal courts and potentially the Supreme Court to decide, a process that could span several years.
(Source：The Block)