US President Donald Trump has eased his stance on prediction markets just days after criticizing their growing popularity.
“I don’t know. I know some people who are very smart—they like it,” Trump told reporters in Florida on Saturday, referring to his earlier remarks opposing the platforms. “They disagree, but they like it.”
He added that international competition could play a role, noting, “A lot of other countries are doing it, and when they do it, we risk being left out if we don’t.”
Trump’s latest remarks followed comments he made at the White House on Thursday, where he said he was “not happy” with prediction markets when asked about well-timed bets tied to events surrounding the Iran war.
“Well, you know, the whole world, unfortunately, has become somewhat of a casino,” Trump said. “You look at what’s happening across Europe and elsewhere—these betting platforms are everywhere. I’ve never really been in favor of it. I don’t like it conceptually, but it is what it is.”
He added, “I’m not happy with any of that, but there are all these different prediction market sites. It’s a crazy world—very different from what it used to be.”
Platforms like Polymarket and Kalshi have seen rapid growth over the past year, with combined trading volumes hitting a record $23.6 billion in March, according to Token Terminal.
Trump’s son, Donald Trump Jr., invested in Polymarket in August and later joined its advisory board. He also serves as an adviser to rival platform Kalshi, a role he took on in January 2025.
Trump himself could soon have indirect exposure to the sector. His company, Trump Media, announced plans in October to launch prediction markets in partnership with Crypto.com on its social platform, Truth Social.
Although Trump divested his personal stake in Trump Media upon taking office, his shares were transferred to a trust managed by Donald Trump Jr., who serves as its sole trustee.
