Trump won't regulate an industry that's corrupting the news business: conservative

Conservative commentator Erick Erickson urged Americans on Monday to pull back from their current trend toward gambling and prediction markets, adding that President Donald Trump cannot be expected to regulate this industry.

“Polymarket and other prediction markets are largely unregulated and are becoming increasingly notorious for this kind of behavior — as well as for potential insider trading allegations, though given that some of those allegations touch the Trump administration,” Erickson said on his podcast. “I doubt the administration will investigate itself on this.”

He added, “These markets are deeply corrupting. And keep in mind: from CNN to Fox News and others, there is a growing movement to give prediction markets news coverage and to formally partner with them — the same dynamic we're already seeing between sports broadcasters and sports betting apps. Consider how many athletes we've seen implicated in sports betting corruption. How long before news organizations start corrupting their own coverage to profit from the prediction markets they're partnered with?”

Concluding that involvement with this type of betting undermines the credibility of the participating institutions, Erickson said “it is not a healthy sign for our society that so much news and sports commentary has shifted toward betting markets and prediction odds rather than actual events. That needs to change.”

Erickson is not the only conservative commentator to denounce the rising prominence of gambling and prediction markets in American politics. Joe Perticone, writing for The Bulwark earlier in March, had a similar argument.

“Like dogfighting, gambling on war is the sort of hobby that is best described in simple, direct moral terms,” Perticone said. “(‘Satanic’ was the one that came to my mind.) But I wanted to pose the question about regulating or banning this industry to some of the lawmakers who are familiar with prediction markets.”

Additionally, Erickson has parted ways with Trump on other issues. For example, Erickson has openly urged Republicans like Trump to distance themselves from Texas Attorney General Ken Paxton, who is currently challenging incumbent Sen. John Cornyn (R-Texas) in a primary experts fear could weaken the GOP’s chances of retaining that Senate seat.

Labeling Paxton as a “serial adulterer,” Erickson pointed out that Paxton was twice impeached for “bribery, abuse of office and other crimes” and has also faced federal investigations.

"In truth, Paxton might win, particularly if the Democrats nominate Jasmine Crockett,” Erickson said. “But the amount of resources Republicans will have to spend on getting Paxton across the finish line will divert critical money from Georgia to beat [Jon] Ossoff, Maine to help Susan Collins, Michigan to help Mike Rogers and North Carolina to stop Roy Cooper, among others."

Erickson also denounced Paxton’s candidacy on his previous electoral performances.

"Past performance is the best indicator of future performance and Paxton having underperformed in a good year for the GOP suggests bad things this year, if Texas Republicans decide to commit suicide,” Erickson argued. “A lot of money will have to be spent on Paxton that will cost the GOP other opportunities.”

Much as he called for Republicans to do more to stop Paxton’s candidacy, he also called for the GOP in February to up its game in investigating the late child sex trafficker Jeffrey Epstein.

“The Constitution of the United States gives [Rep. Thomas] Massie [R-Ky.] the right to go to the floor of the House, say anything he wants, and avoid all recriminations, including lawsuits for defamation.” Erickson said. “Why won't he?”

Erickson also blasted the GOP for not distancing itself from Trump adviser Steve Bannon, who had a long friendship with Epstein but received "no scrutiny, with the Trump administration even seeking to clear Bannon's criminal record."

"We've gotten more and more details about Bannon's close relationship with Epstein, and the Trump Administration wants to do Bannon a solid now,” Erickson added.

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