Warren seeks CFTC records on crypto and prediction markets, citing staff cuts and political pressure concerns
The senator gave Chairman Michael Selig until June 18 to explain an apparent pullback in crypto and prediction-market oversight as Congress weighs a broader digital-asset role for the agency.
Senator Elizabeth Warren has asked Commodity Futures Trading Commission Chairman Michael Selig to turn over documents on the agency’s handling of cryptocurrency and prediction market regulation, arguing that lower enforcement activity, staff reductions and potential political influence may be weakening oversight. In a public letter sent last Friday, Warren requested records explaining what she described as an apparent rollback in crypto and prediction-market regulation and possible Trump administration interference, with a response due by June 18. She said staffing has fallen by about 25% and enforcement has dropped sharply, and criticized the CFTC’s handling of matters involving Gemini, Polymarket and Crypto.com as Congress considers expanding the agency’s role in overseeing digital assets.
- prediction markets: Platforms where users trade contracts tied to future event outcomes, often raising questions about whether they fall under derivatives regulation.
- digital assets: A broad term for electronically issued assets, including crypto-related tokens, that may fall under different regulatory regimes depending on their structure.
- enforcement: Regulatory actions such as investigations, charges and penalties used by agencies to police market misconduct and rule violations.