It’s MAGA v Broligarch in the battle over prediction markets
The CFTC is suing states challenging its authority over prediction markets, creating a rift between the Trump administration and Republican state leaders like Utah's Governor Cox.Summary
The MAGA-tech alliance appears fractured as the Trump administration, via the CFTC, officially opposed state lawsuits challenging federal authority over prediction markets like Kalshi. CFTC Chairman Michael Selig asserted federal regulatory power, threatening legal action, which drew immediate condemnation from Utah Governor Spencer Cox, who labeled these markets as gambling and vowed to fight the federal government in court. This conflict highlights a potential split within the Republican base regarding federal overreach on emerging technologies, especially given Utah's strong anti-gambling stance. Separately, the article notes friction between the Pentagon and AI company Anthropic, which the Pentagon may designate a supply-chain risk for refusing unrestricted use of its Claude model, echoing past Trump administration retaliation against ideologically opposed companies. Further internal MAGA conflicts are noted, including Steve Bannon facing scrutiny over past texts with Jeffrey Epstein, and a lawsuit against Bannon and Boris Epshteyn over a cryptocurrency operation.
(Source：The Verge)