"CFTC Chairman Michael Selig confirmed that the agency is deploying artificial intelligence and automated surveillance tools to police digital asset markets, prediction platforms, and traditional commodity derivatives, despite a 20% reduction in staff since FY2024."
"Selig highlighted that six Polymarket accounts reportedly earned $1.2 million betting on U.S.-Iran strikes just hours before the action, raising alarms about potential insider trading."
"Selig called bipartisan crypto market structure legislation under the Clarity Act essential, urging Congress to send the bill to the president's desk in 2025 to improve regulatory frameworks."
CFTC Chairman Michael Selig announced the deployment of AI and automated surveillance tools to monitor digital asset markets and traditional commodities. The agency's staff has decreased by over 20% since FY2024. Concerns about insider trading were raised following reports of significant earnings from Polymarket accounts related to U.S.-Iran strikes. Selig emphasized the need for bipartisan legislation on crypto market structure, urging Congress to pass the Clarity Act by 2025 to enhance regulatory oversight.
Read at news.bitcoin.com
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