U.S. President Donald Trump used a White House meeting with cryptocurrency and financial-industry executives to press Congress to pass the Clarity Act, while prediction-market companies were left out of the event despite earlier reports that they would participate.
Trump told attendees on Wednesday that Congress should pass a “fair version” of the Clarity Act, legislation designed to establish clearer definitions for digital assets and determine whether different cryptocurrencies fall under the jurisdiction of the Securities and Exchange Commission (SEC) or Commodity Futures Trading Commission (CFTC).
The meeting came one day before the CFTC was due to hold the inaugural meeting of its Innovation Advisory Committee, where emerging financial technologies, including crypto and prediction markets, are expected to be part of the broader regulatory discussion.
Prediction market representatives were ultimately not invited to the White House event, with a person familiar with the meeting telling The Hill that the administration had decided to focus the gathering solely on crypto.
The development was notable because earlier reports had indicated that prediction market executives could attend the event alongside cryptocurrency and financial-industry leaders. The exclusion comes at a particularly significant moment for companies such as Kalshi and Polymarket, which have increasingly positioned event contracts as a new category of financial product while facing opposition from state gambling regulators and traditional sportsbook operators.
Trump has previously taken a supportive position toward prediction markets. In May, he argued that the CFTC’s authority over prediction markets should be maintained and said the sector should be allowed to grow in the United States.
While prediction markets were absent from the White House discussion, the event brought together several major figures from the cryptocurrency and financial sectors.
Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev, Kraken co-CEO Arjun Sethi and Intercontinental Exchange CEO Jeffrey Sprecher were among those who appeared alongside Trump. SEC Chair Paul Atkins, CFTC Chair Michael Selig and White House crypto adviser Patrick Witt also attended.
Trump’s main message was that Congress needs to provide the crypto industry with a permanent regulatory framework. The Clarity Act would establish a statutory division between securities and commodities and clarify the respective roles of the SEC and CFTC.
The push comes after the SEC proposed a new crypto framework on Tuesday that would make it easier for certain companies to issue tokens and raise capital under exemptions from existing securities rules. However, the broader legislation remains stalled in the Senate.
For the prediction market industry, the distinction between crypto regulation and event contract regulation is becoming increasingly important. Although the two sectors are often discussed together as part of the administration’s broader financial-technology agenda, prediction markets face a separate battle over whether contracts on sports, politics and other events should fall under federal derivatives regulation or state gambling laws.
The timing of the White House event places additional attention on Thursday’s CFTC Innovation Advisory Committee meeting.
Selig has described the committee as part of an effort to move beyond what he called the previous administration’s approach of “regulating by enforcement,” arguing that emerging technologies including blockchain, artificial intelligence and prediction markets need a regulatory environment that allows innovation to develop in the U.S.
For prediction market operators, the CFTC’s position could have significant consequences. The sector has increasingly sought to establish event contracts as financial products subject to federal commodities regulation, while states and gambling-industry stakeholders have argued that contracts tied to sporting events can effectively function as wagers.
Analysts view the White House’s decision to keep prediction markets out of its crypto-focused meeting as not necessarily signaling a change in Trump’s broader position. But it does underline the fact that prediction markets remain a distinct regulatory issue, even as the administration moves aggressively to establish the U.S. as a hub for emerging financial technologies.
Original article: https://www.yogonet.com/international/news/2026/08/20/125989-trump-pushes-crypto-agenda-at-white-house-prediction-markets-shut-out-of-meeting
