US President Donald Trump has softened his stance on prediction markets just days after lamenting the growing interest and popularity of betting platforms.

“I don’t know. I know some very smart people. They like it,” Trump told reporters in Florida on Saturday after being asked about earlier comments in which he said he did not support forecasting markets. “They don’t agree, but they like it.”

“Many other countries are doing it, and when other countries do it, if we don’t do it, we’ll be left out in the cold,” he said.

Donald Trump talks to reporters in Florida before leaving for Washington. Source: YouTube

Trump’s latest comments came after he told reporters at the White House on Thursday that he was “not happy” with forecasting markets in response to a question about timing bets on events related to the Iran war.

“Well, unfortunately the whole world has become kind of a casino,” Trump said Thursday. “And you look at what’s happening around the world and in Europe and every place where they’re making these bets. I’ve never been much of a supporter of it. I don’t like it conceptually, but it is what it is.”

“I guess I’m not happy with any of this stuff, but they have all these different market forecast sites. It’s a crazy world. It’s a completely different world than it was before,” he added.

The employ of prediction markets such as the popular Polymarket and Kalshi has skyrocketed over the past year, with combined trading volume on both platforms reaching a record $23.6 billion in March. According to to the Token Terminal.

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Trump’s son, Donald Trump Jr., invested in Polymarket in August and joined the company’s advisory board. He is also an advisor to rival Kalshi, who will take up the position in January 2025.

President Trump may soon become interested in prediction markets. His company, Trump Media, said in October that it would introduce prediction markets on its flagship social networking site, Truth Social, in partnership with Crypto.com.

Trump divested his stake in Trump Media after taking office, placing his shares in a trust with Trump Jr. as sole trustee.

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