The White House is reviewing proposed prediction market rules as President Donald Trump throws his support behind the Commodity Futures Trading Commission’s oversight of the industry amid growing resistance from states.

On Tuesday, the White House's Office of Information and Regulatory Affairs said it received the proposed rule from the CFTC, and said it is pending review, according to its website.

In an emailed statement to The Block, a CFTC spokesperson said the agency will say more once the OIRA's process is finished.

"The Commission has transmitted its notice of proposed rulemaking on event contracts under Section 5c(c) of the Commodity Exchange Act to the Office of Information and Regulatory Affairs for review, consistent with the standard interagency process," the CFTC spokesperson said. "We look forward to OIRA’s review and will have more to say once that process is complete."

The White House did not immediately respond to a request for comment.

Over the past year, the CFTC has sought to assert its jurisdiction over prediction markets, which allow people to place bets on the outcomes of real-world events, such as elections, sports, and controversial issues related to war.

In March, the CFTC released guidance outlining how exchanges should approach listing prediction market contracts, including emphasizing that exchanges designated as contract markets act as the front-line regulators responsible for ensuring listed contracts are "not readily susceptible to manipulation" or abusive trading practices. Concerns over insider trading have grown as lawmakers have probed prediction markets following suspicious trades tied to elections and U.S. military actions.

Meanwhile, CFTC Chair Michael Selig has taken an aggressive stance that prediction markets fall under the "exclusive jurisdiction" of his agency — suing five states in the process, including Wisconsin, Illinois, Arizona, Connecticut, and New York— over their attempts to restrict platforms like Kalshi and Polymarket.

The issue of whether states or the CFTC regulates prediction markets continues to play out in the courts. States have pushed back, saying that the platforms are violating local gaming and gambling laws, particularly those related to sports betting.

On Tuesday, Trump weighed in. He publicly backed Selig, calling the issue "critically important" for the CFTC to have exclusive jurisdiction over prediction markets, while also criticizing former New Jersey Governor Chris Christine, New York Attorney General Letitia James, Minnesota Governor Tim Walz, and Illinois Governor JB Pritzker. Trump tapped Selig to lead the CFTC last year.

"Under my leadership, we are setting 'rules of the road' that are the Gold Standard for the States," Trump said in his post. "We cannot have SCUM like Chris Christie, Letitia James, Tim Walz, and JB Pritzker setting the rules!"

Gov. Pritzker responded in a post on X, calling Trump corrupt.

"Illinois took action to prevent and ban insider trading with online prediction markets in our state," Pritzker said. "The most corrupt President in our nation’s history wants to make sure states like ours can’t regulate prediction markets so his family and administration can keep profiting."

Donald Trump Jr. invested in Polymarket through the venture capital firm 1789 Capital and is also a strategic advisor to Kalshi.

In a note on Wednesday, Jaret Seiberg, managing director at TD Cowen's Washington Research Group, said Trump's bid to join the fight to have the CFTC regulate prediction markets is unlikely to change the broader legal arguments over event contracts. The issue is before the federal courts, not the regulators or executive branch, Seiberg said.