Masto says Trump family profits from CFTC prediction push

Nevada senator Catherine Cortez Masto accuses CFTC chairman Michael Selig of helping the Trump family profit from prediction markets.

The hit

Nevada senator Catherine Cortez Masto says sports prediction contracts are obviously gambling, putting her at odds with the CFTC. She made the claim in a Monday post on X, accusing CFTC chairman Michael Selig of encouraging companies to keep offering the bets in violation of court orders, & accusing the Trump family of profiting from the fight.

Why it matters

If prediction contracts count as gambling, states & tribes keep the right to police who can trade them, cutting across the CFTC’s push for open national access. Masto’s attack ties that regulatory fight to the political stakes for whichever reading of the law wins.

The record

CFTC deadline for exchanges to comply or explain why they cannot	30 days (CFTC order)
Rule cited by the CFTC	Regulation 38.151(b), the impartial-access rule
States with court orders restricting prediction-market access	Several states, including Michigan, Nevada & Washington
Requested new Supreme Court response deadline in Nevada’s Crypto.com case	7 December (moved from 16 November), per Nevada’s attorney Nicole Saharsky, with Crypto.com’s consent
Trump family links	Donald Trump Jr, strategic advisor & equity holder at Kalshi & Polymarket; his firm 1789 Capital led funding rounds into Polymarket

What happens next

Watch whether the Supreme Court grants Nevada’s requested deadline move. Gaming attorney Daniel Wallach says Nevada’s possible strategy is to link the Crypto.com case to Kalshi’s New Jersey case for consolidated arguments.

Sources: Nevada: Senator Masto believes sports event contracts are gambling, criticizes Trump family

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