Bloomberg reported that the White House OIRA is reviewing a proposed CFTC rule on prediction-market event contracts, with the agency saying more information will be released after the review concludes. The step advances the proposal in the federal rulemaking process, though no timetable or text has been disclosed. The review comes as President Trump and Chair Michael Selig argue the CFTC should retain exclusive jurisdiction over prediction markets, while states continue to challenge whether such products are federally regulated derivatives or gambling. The dispute affects platforms including Polymarket, Kalshi, Robinhood, Crypto.com, and Coinbase, and has broader relevance to crypto-linked markets that use blockchain infrastructure or tokenized settlement. Reports say the CFTC has sued five states, though one account names only New York and Illinois while another lists Wisconsin, Illinois, Arizona, Connecticut, and New York. Additional pressure includes a 39-state attorneys general coalition backing Massachusetts against Kalshi’s sports contracts, Minnesota’s new criminal penalties for operating prediction markets, and congressional scrutiny of Kalshi and Polymarket over insider trading concerns.