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CFTC head commits to focus on crypto and prediction markets
On January 20, 2026, the CFTC’s chairman, Michael Selig, announced that the regulator will “future-proof” itself to better navigate new financial technologies like cryptocurrencies and prediction markets.
Selig stressed that in order to correctly address modern fintech innovations, the regulator needs a comprehensive review of its rules, as well as clear and purposeful regulations for all categories.
Selig stated:
“Prediction markets have exploded in popularity as broad swaths of market participants seek to hedge portfolio risks and test their abilities to forecast truth. The CFTC will seize this generational opportunity to modernize and future-proof its approach to regulation and ensure that the great innovations of today and tomorrow are made in America.”
When he first took the position in November 2025, Selig avoided prediction market and event contract issues; however, with the support of U.S. President Donald Trump, he has since changed his approach.
Selig’s announcement comes in connection with a bill on cryptocurrency market structure, which passed the House in July 2025 and is now in the Senate. Selig also wrote that if the bill passes, the CFTC will have a much stronger position in the financial ecosystem than it ever has.
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