Overview
- - CFTC Chairman Michael Selig told the House Agriculture Committee on Thursday that the agency will pursue anyone committing fraud, manipulation, or insider trading and said there are numerous active investigations into event‑contract and derivatives markets.
- - The regulator is operating with Selig as its only commissioner and about a 20–25% smaller workforce than in 2025, and he said AI tools such as Microsoft Copilot now support surveillance and case work to offset staff losses.
- - The CFTC is pushing a federal rulebook for prediction markets after a March advance notice of proposed rulemaking and is asserting exclusive federal jurisdiction in court fights with Arizona, Connecticut, and Illinois, with related appeals arguments also underway in California.
- - Members of both parties pressed Selig on contracts that resemble gambling and on markets tied to war and deaths, raised questions about consumer protections and possible conflicts given Donald Trump Jr.’s advisory and investment ties, and noted there is no public evidence of illicit trades by the president or his family.
- - Platforms like Polymarket and Kalshi have grown from small volumes to billions, and Congress is weighing the Clarity Act that could expand the CFTC’s crypto mandate, even as the enforcement division seeks only three hires this year to reach 108 staff, still well below its 2025 level.