The U.S. Commodity Futures Trading Commission has formally closed its enforcement cases against former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang through consent orders issued by the U.S. District Court for the Southern District of New York. Ellison faces a 5-year trading ban and 10-year registration ban, while Wang faces a 5-year trading ban and 8-year registration ban, both running from the effective date of their initial 2022 consent order. The orders reflect their cooperation with the CFTC investigation, including their guilty pleas in related criminal cases and joint responsibility for nearly $11 billion in forfeiture. In a separate development, U.S. prosecutors in the same court filed their opposition to a motion to dismiss filed by U.S. soldier Gannon Ken Van Dyke, who allegedly earned more than $400,000 betting on event contracts on Polymarket using nonpublic information linked to the January operation that removed Venezuelan President Nicolás Maduro. The government argued that Van Dyke's claims about the Commodity Exchange Act's treatment of event contracts as swaps are speculative and inappropriate at the motion-to-dismiss stage. As of Friday, the court had not ruled on the motion.