According to ChainCatcher, citing Bloomberg, Michael Selig's appointment as the new chairman of the U.S. Commodity Futures Trading Commission (CFTC) comes at a critical time for the agency as it faces expanding its regulatory authority over crypto assets and forecasting the rapid growth of the market.
Currently, over 90% of trading volume on platforms like Kalshi comes from sports betting predictions, and the CFTC's stance on restricting the prediction market remains unclear. Selig previously opposed restrictions on sports betting and will now face multiple challenges, including court litigation, personnel restructuring, and a shortage of regulatory resources. It is expected that the CFTC will increase protection for retail traders and carefully evaluate policy paths related to crypto and prediction markets in the future.
