[The White House Initiates Review of U.S. CFTC's Proposed Rules on Prediction Markets] According to The Block, the Office of Information and Regulatory Affairs (OIRA), under the U.S. White House Office of Management and Budget, stated on its website Tuesday that it has received the Commodity Futures Trading Commission's (CFTC) proposed rules on prediction markets and is currently reviewing them. A CFTC spokesperson said more information will be released after OIRA completes its review. CFTC Chairman Michael Selig has consistently argued that prediction markets fall under the agency's "exclusive jurisdiction" and has filed lawsuits in five states, including Wisconsin, Illinois, Arizona, Connecticut, and New York. On Tuesday, Trump publicly expressed support for Selig, stating that the CFTC's exclusive jurisdiction over prediction markets is "critical."