"Michael Selig, the 36-year-old lawyer selected by President Donald Trump to lead the Commodity Futures Trading Commission, is the country's top federal regulator of prediction markets. And in recent weeks, he's made clear he'll be a champion for the burgeoning industry."
"The Commodity Futures Trading Commission is a federal agency, established in 1974, that's in charge of regulating derivatives markets. That includes futures contracts, which allow people to hedge against potential price fluctuations, as well as swaps. Because platforms like Kalshi and Polymarket are selling what they call 'event contracts' - derivatives that either settle at $1 or 0 based on the outcome of future events - they fall under the purview of the CFTC."
Michael Selig, a 36-year-old lawyer nominated by President Trump, leads the Commodity Futures Trading Commission, the sole federal regulator of prediction markets. Selig graduated from George Washington University Law School in 2015 and previously worked at private law firms representing CFTC-regulated clients. He joined the Trump administration in March 2025 as chief counsel of the SEC's Crypto Task Force before being nominated as CFTC Commissioner in October and confirmed by the Senate in December. The CFTC, established in 1974, regulates derivatives markets including futures contracts and swaps. Prediction market platforms like Kalshi and Polymarket fall under CFTC jurisdiction because they sell event contracts—derivatives settling at $1 or $0 based on future outcomes. Selig has publicly stated prediction markets are valuable to society, positioning himself as an industry ally.
Read at Business Insider
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