CFTC Acting Chair Announces Roundtables for Crypto and Prediction Market Regulation
The US Commodity Futures Trading Commission (CFTC) has launched a new regulatory phase under Acting Chair Caroline Pham, focusing on the evolving crypto and prediction markets. A series of public roundtable discussions will be held to gather data and input from industry leaders.
Pham emphasized the need for clear rules to support US economic growth and competitiveness.
Key points include:
- Prediction markets have faced scrutiny, particularly regarding legal disputes with operators like Kalshi.
- The CFTC is considering rules to ban political event betting.
- Former SEC Chair Gary Gensler stepped down, with Paul Atkins awaiting Senate confirmation as his successor, potentially bringing a more favorable stance towards crypto.
- Congress is advancing the Financial Innovation and Technology for the 21st Century Act (FIT 21), which clarifies the regulatory framework for digital assets between the SEC and CFTC.
- FIT 21 passed the House with a vote of 278 to 136.
- The act classifies assets based on decentralization, giving the CFTC authority over decentralized networks.
- Bipartisan efforts on stablecoin legislation are also underway, indicating a growing consensus on regulatory clarity in the crypto sector.