Analysis: The new CFTC chairman faces dual regulatory challenges in cryptocurrency and prediction markets

According to Bloomberg, as Michael Selig takes office as the new chairman of the Commodity Futures Trading Commission (CFTC), the agency is at a critical juncture facing the expansion of regulatory authority over crypto assets and the rapid growth of prediction markets.

Currently, over 90% of the trading volume on platforms like Kalshi comes from sports predictions, and the CFTC's stance on limiting prediction markets remains unclear. Selig has previously opposed restrictions on sports betting and will inherit multiple challenges, including court litigation, personnel restructuring, and resource shortages at the regulatory agency. It is expected that the CFTC will increase protections for retail traders in the future and carefully assess policy pathways related to crypto and prediction markets.