PANews reported on May 27 that, according to The Block, US President Trump publicly supported his appointed Commodity Futures Trading Commission (CFTC) Chairman Michael Selig's efforts to expand jurisdiction over prediction markets, calling the issue "crucial." Trump stated that maintaining the CFTC's exclusive jurisdiction over prediction markets is essential, and that prediction markets should thrive. For the past year, Selig has been advocating for the CFTC's "exclusive jurisdiction" over prediction markets and has filed lawsuits against five states: Wisconsin, Illinois, Arizona, Connecticut, and New York. Trump also used this opportunity to emphasize his support for the crypto industry, calling the US "the capital of crypto assets like Bitcoin."