{ "id": 72916, "date": "2026-04-17T09:04:39", "date_gmt": "2026-04-17T02:04:39", "guid": { "rendered": "https:\/\/hbbgroup.net\/with-no-bipartisan-leadership-cftc-wont-slow-down-on-rulemaking\/" }, "modified": "2026-04-17T09:04:39", "modified_gmt": "2026-04-17T02:04:39", "slug": "with-no-bipartisan-leadership-cftc-wont-slow-down-on-rulemaking", "status": "publish", "type": "post", "link": "https:\/\/hbbgroup.net\/en_us\/with-no-bipartisan-leadership-cftc-wont-slow-down-on-rulemaking\/", "title": { "rendered": "With no bipartisan leadership, CFTC won’t \u2018slow down\u2018 on rulemaking" }, "content": { "rendered": "
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The chair of the Commodity Futures Trading Commission (CFTC), Michael Selig, said he would not wait for the appointment of additional commissioners to lead the regulatory agency before moving ahead on rulemaking potentially related to digital assets and prediction markets.<\/p>\n

In a Thursday hearing of the House Agriculture Committee, Selig responded<\/a> to questions from ranking member Angie Craig, who called out the lack of leadership at the CFTC, which normally has a bipartisan panel of five commissioners. The Minnesota representative asked the chair to commit to not finalizing regulations while he is the only commissioner. <\/p>\n

\u201cIn the interim, we cannot, for the sake of the American people, slow down in our rulemaking,\u201d said Selig. \u201cIt\u2019s very important that we get investor protections, consumer protections and safeguards for our markets. And so, I cannot, unfortunately, commit to not do my job that I was appointed to do by the president.\u201d<\/p>\n

\"Government,
CFTC Chair Michael Selig speaking on Thursday. Source: <\/em>US House Committee on Agriculture<\/em><\/a><\/figcaption><\/figure>\n

Selig, who has served as the CFTC\u2019s sole commissioner and chair since December, has come under scrutiny from many lawmakers for unilaterally leading the agency on rules favoring crypto and prediction markets with no bipartisan group of commissioners. As of Thursday, President Donald Trump had not publicly announced any nominations to staff the agency nor signaled he intended to do so.<\/p>\n

\u201cWe\u2019re going to do more through rulemaking,\u201d said Selig in response to a question on the CFTC\u2019s leadership from Representative Don Davis. \u201cWe can\u2019t have the staff deciding on discretion what the rules are.\u201d<\/p>\n

Related: <\/strong><\/em>CFTC probes oil futures trades tied to Trump’s moves in Iran: Report<\/strong><\/em><\/a><\/p>\n

The CFTC chair proposed rulemaking in March<\/a> that could amend or issue new regulations over event contracts on prediction markets. Selig has been outspoken about claiming that the agency has \u201cexclusive jurisdiction\u201d over prediction markets as the companies behind some platforms face state-level lawsuits related to sports betting laws and proposed legislation to crack down on insider trading.<\/p>\n

CFTC\u2019s legal fight over prediction market continues<\/h2>\n

Gaming authorities in several US states have filed lawsuits against prediction market companies like Kalshi and Polymarket, alleging the platforms offered sports betting in violation of state laws.<\/p>\n