Recent controversies seem to be testing congressional Republicans’ steadfast support for crypto and prediction markets.

Republican lawmakers on Thursday asked Michael Selig, the head of the Commodity Futures Trading Commission, for assistance crafting legislation to onshore certain crypto platforms and to combat insider trading on prediction markets.

Ever since President Donald Trump took office in January 2025, Democrats have used congressional hearings to attack the administration’s laissez-faire regulation of novel financial products. Their Republican colleagues have rarely joined in.

Thursday was different. Representative Austin Scott, a Republican from Georgia, said he was concerned by the rapid growth of…