Donald Trump

The Trump family is pivoting toward the rapidly expanding prediction markets industry, marking a strategic shift from its historic involvement in casino gambling. With plans to launch a cryptocurrency-based platform and advisory roles in leading prediction market firms, the family is positioning itself at the intersection of finance, technology, and speculative trading. This move reflects broader changes in how consumers engage with risk and wagering, as digital platforms redefine traditional betting models.

President Trump has signalled that he is considering a major change to U.S. taxation by potentially eliminating federal taxes on gambling winnings, part of a broader strategy to reduce what his administration calls burdens on everyday earners. The proposal, still in a conceptual stage, builds on recent reforms that removed taxes on tips, Social Security benefits and overtime. Under current law, gambling earnings above certain thresholds trigger tax reporting and withholding, with net income subject to federal tax.