Former U.S. President Donald Trump has revised his position on prediction markets days after criticizing their growth. He now acknowledges smart supporters and cited competitive concerns with other nations. His son, Donald Trump Jr., holds advisory roles at key platforms Polymarket and Kalshi, and Trump Media has announced a partnership with Crypto.com to launch markets on Truth Social.
Former U.S. President Donald Trump appears to have softened his stance on prediction markets. He told reporters in Florida on Saturday, “I don’t know. I know some people who are very smart. They like it,” after being asked about his earlier comments.
He added, “A lot of other countries are doing it, and when the other countries do it, we get left out in the cold if we don’t do it.” This contrasts with remarks he made at the White House on Thursday, where he stated he was “not happy” with such markets.
On Thursday, Trump said, “Well, you know, the whole world, unfortunately, has become somewhat of a casino.” He expressed a general dislike for the concept but acknowledged its prevalence. Prediction markets like Polymarket and Kalshi have surged in use recently.
The two platforms together saw a record $23.6 billion in trading volumes in March, according to Token Terminal. Trump’s son, Donald Trump Jr., invested in Polymarket in August and joined its advisory board.
He also serves as an adviser to rival Kalshi, taking that role in January 2025. Trump Media announced in October that it would roll out prediction markets in partnership with Crypto.com on its flagship social media site, Truth Social.
President Trump divested his stake in Trump Media upon entering office, transferring his shares to a trust. Donald Trump Jr. is the sole trustee for that trust.
