Because of his background, Mulvaney, a former Trump administration official, says he can tell when something is gambling—and that the sports contracts on prediction markets fit the bill. Earlier this month, former New Jersey governor Chris Christie and current Utah governor Spencer Cox both spoke out against the current federal approach to regulating prediction markets. These developments are part of a fierce political battle over how prediction markets are regulated. Truth Social, the social media platform majority-owned by President Trump and his family, is planning its own prediction market offering, reportedly called Truth Predict. But the launch of Gambling Not Investing demonstrates that there is a growing wing of the Republican party that feels the prediction markets need more guardrails.