Why Is Trump So Pro-Prediction Markets While Everyone Else Is Banning Them?

[viljy]

Maybe I'm missing something here but this doesn't make sense to me.

Prediction markets are getting banned in a bunch of countries right now. Netherlands, Ukraine, Romania, Portugal all kicked them out. US regulators are investigating them too.

But Trump is defending them really hard. Like every chance he gets.

The part I don't get - isn't Trump Jr. involved with these platforms? I've seen articles about him placing bets and having connections to prediction market companies.

So is Trump defending something his son profits from? While it's facing legal problems everywhere else?

I'm genuinely asking because this seems like a conflict of interest but maybe I'm not understanding it correctly.

Like if the president supports an industry and his kid makes money from that industry, isn't that... problematic? Or is this normal and I'm just overthinking it?

Can someone explain what I'm missing here? Because it looks sketchy to me but maybe there's context I don't have.

Such a phenomenon as the "prediction market" (the name itself is laughable for its clumsiness in an attempt to cover up the essence) is specifically designed for manipulation and money laundering. So it's not surprising that this is becoming noticeable. Well, at least this applies to gambling and requires licensing (depending on the jurisdiction).

As for Trump, many people in his place would defend such an excellent tool for manipulation as the Polymarket. Well, it can be understood. He and his family now need to save up more money for lawyers. The prospect of impeachment and multiple charges looms ahead (for example, related to tokens), and this is not to mention the threat of disclosure of compromising material from Epstein's files.

[danherbias07]

I don't like accusing other governments, but it does smell fishy.

Still, their country has been regulating gambling sites, and prediction markets are not really far from it. It's either that they are making money out of it or they are just open to this kind of industry, unlike other countries that want everything under their control.
Regulations. There are gambling sites that want control over one country, and they want any big competition like prediction markets, especially the decentralized ones, because they cannot trace them. If the regulated ones will pay well, they can ask the government to trash prediction sites in exchange for a higher gambling tax.

[cryptomaniac_xxx]

Perhaps they are making money out of the prediction market. Maybe someone close to them are using it to bet with insider information, like the recent millions of money betting on the start of the conflict between them and Iran.

There is no proof though, everyone can make their accusations as we have seen some board about it saying that there is manipulation. Or maybe Trump and his family are not really involved. But his government wanted to be really open to everyone, just like being pro-crypto and all other stuff.

[Kelward]

I know that Trump, cannot be a dictator in a strong democratic country like USA so I don't think that the decision of legality of prediction market solely rests on him, I think that if Polymarket is not favorable to the lawmakers of America they will kick against it whether Trump likes it or not, although I don't know if they are against it. We shouldn't judge America's decision on Polymarket and prediction market based on the standards of European countries and others that have banned Polymarket, if American government allows it then let it be legal in that country. But whether Trump's pro prediction market is because of the said interest of his son that is another case altogether however my point is that if American lawmakers are cool with Trump's stance then we shouldn't worry about his personal motives and preferences.

[Wapfika]

But Trump is defending them really hard. Like every chance he gets.

The part I don't get - isn't Trump Jr. involved with these platforms? I've seen articles about him placing bets and having connections to prediction market companies.

So is Trump defending something his son profits from? While it's facing legal problems everywhere else?

Always attached source if you are sharing a sensitive information because you are accusing the POTUS doing a fraud with prediction market.

Although there’s always a possibility considering that some shady bets that related to his military move was made before especially US invade Maduro.

Trump will support a business that generates profit for them to fund their war.