The U.S. Commodity Futures Trading Commission is considering formal rules to strengthen protections for non-custodial software developers, according to CFTC Chairman Michael Selig. The effort follows the agency’s March no-action letter to Phantom, a crypto wallet provider, which indicated limited enforcement risk under specific conditions. Selig also said prediction markets fall under CFTC jurisdiction, adding a broader regulatory dimension to the agency’s current stance. The development is significant because it could provide clearer regulatory treatment for wallet and blockchain software developers in the United States while reaffirming the CFTC’s oversight of prediction markets.