CFTC chair Michael Selig pressed on staffing and funding amid prediction market surge
Updated
Updated · CNN · Apr 26
CFTC chair Michael Selig pressed on staffing and funding amid prediction market surge
14 articles · Updated · CNN · Apr 26
The CFTC workforce has dropped by 24% since Trump returned to office, with only 535 employees remaining and enforcement staff cut by 23%.
Lawmakers raised concerns after a US special forces soldier was arrested for insider trading linked to the Maduro raid, as the agency also investigates suspicious oil futures trades before major Iran policy changes.
Selig claims AI tools are improving efficiency, but critics warn deep staffing cuts hinder oversight as prediction markets reach billions in weekly trading and insider trading risks grow. Congressional efforts to tighten regulations are underway.
Can AI truly replace human regulators in policing billion-dollar markets?
With its watchdog agency downsized, who is actually protecting your money?
As states and the federal government clash, who really controls prediction markets?
A new law could reshape crypto regulation, but will it ever pass?
When war and politics become betting odds, what is the real cost?
In April 2026, lawmakers sharply questioned CFTC Chair Michael Selig about the agency's severe staffing and funding shortages, which limit its ability to regulate rapidly growing prediction markets. These capacity issues have prompted the CFTC to prioritize insider trading enforcement, highlighted by the prosecution of a U.S. Army sergeant who used classified information to trade. Meanwhile, states continue challenging the CFTC's claim of exclusive federal jurisdiction, leading to ongoing legal battles. In response, bipartisan legislative proposals and the CFTC's Innovation Task Force aim to strengthen oversight and clarify rules. Prediction market platforms are also enhancing compliance, but without increased federal resources, effective regulation and market integrity remain at risk.