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CFTC’s Ex-Leaders Doubt It Can Juggle Crypto, Prediction Markets

CFTC’s Ex-Leaders Doubt It Can Juggle Crypto, Prediction Markets

The Commodity Futures Trading Commission is going through one of the biggest upheavals in its 50-year history as it takes on prediction markets and braces for a new role as crypto cop, but those efforts will fall short without more cash or personnel, agency veterans say.

Trump-appointed Chairman Michael Selig, currently the agency’s sole commissioner while the other four seats remain vacant, has emphatically sought to assert the CFTC’s exclusive jurisdiction over prediction markets, bringing lawsuits against states and their gambling regulators. The agency also stands to solidify its role as crypto’s main US watchdog under the CLARITY Act …

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