PANews reported on May 28 that, according to The Block, the Office of Information and Regulatory Affairs (OIRA) under the White House Office of Management and Budget stated on its website on Tuesday that it has received a proposed rule for prediction markets from the Commodity Futures Trading Commission (CFTC) and is currently reviewing it. A CFTC spokesperson stated that more information will be released after the OIRA review is completed.

CFTC Chairman Michael Selig has consistently argued that prediction markets fall under his agency's "exclusive jurisdiction" and has filed lawsuits in five states: Wisconsin, Illinois, Arizona, Connecticut, and New York. On Tuesday, Trump publicly endorsed Selig, stating that the CFTC's exclusive jurisdiction over prediction markets is "crucial."