White House excludes prediction markets from Trump’s tech event

The White House is rolling out the red carpet for crypto executives on Wednesday. Prediction market platforms, however, didn’t even get a plus-one.

Officials from prediction market companies like Polymarket and Kalshi were intentionally excluded from a tech-focused event at the White House on August 19, according to Axios. The gathering will feature leaders from the cryptocurrency and broader technology sectors alongside President Trump, SEC Chairman Paul Atkins, and CFTC Acting Chairman Michael Selig.

The snub is notable because Politico reported just days earlier, on August 13, that both crypto and prediction market representatives were expected to attend.

Who’s in, who’s out

The guest list reads like a crypto industry yearbook. Executives from Coinbase, Gemini, and Ripple are all expected to have seats at the table, rubbing shoulders with tech leaders and top financial regulators.

The timing adds another layer of intrigue. The CFTC’s Innovation Advisory Committee meeting is scheduled for August 20, the day after the White House event. That meeting will also involve industry participants discussing the intersection of innovation and regulation in digital assets. Prediction markets fall under the CFTC’s jurisdiction as derivatives products, which means the same agency that will be represented at the White House event is also the one keeping prediction markets at arm’s length.

Why prediction markets are getting the cold shoulder

Recent probes have zeroed in on so-called “mention markets,” where contracts are tied to whether a public figure will say a specific word or phrase. Investigations have also targeted insider betting practices, where platform staff or individuals with non-public information may have influenced market outcomes.

Kalshi fought a public legal battle with the CFTC over event contracts tied to congressional elections, ultimately winning a court ruling that allowed it to list those products.

What this means for the crypto industry

The fact that crypto firms are being invited while prediction markets are excluded suggests Washington is increasingly comfortable treating mainstream crypto platforms as legitimate financial infrastructure. Coinbase is publicly traded. Gemini has spent years pursuing regulatory compliance. Ripple recently resolved its years-long legal battle with the SEC.

The CFTC’s Innovation Advisory Committee meeting on August 20 could offer one of the first opportunities for prediction market companies to begin that rehabilitation, assuming they are allowed to participate in that forum even if the White House was not interested.

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