Search results for Michael Selick
Crypto
Clarity Act could shape CFTC authority over prediction markets in U.S.
A bill known as the Clarity Act being discussed in the U.S. Congress could provide grounds to expand the Commodity Futures Trading Commission\'s oversight of prediction markets, a claim said to have been raised. At a House subcommittee hearing, legal experts focused on regulatory gaps around sports event prediction markets and conflicts between federal and state rules. Debate is intensifying over how far the CFTC can oversee platforms such as Kalshi and Polymarket.
Crypto
U.S. CFTC regulatory retreat under scrutiny as Warren seeks answers on Gemini, Polymarket
U.S. Senator Elizabeth Warren pressed the Commodity Futures Trading Commission over what she called a pullback in crypto enforcement and suspected political interference. Warren asked Chairman Michael Selick to explain reduced enforcement, staffing cuts and whether certain firms received favorable treatment. She cited sharp declines in cases and penalties since the Trump administration began, reports of workforce reductions, and approvals involving Polymarket and Gemini. Warren demanded records by June 18.
Crypto
SEC-CFTC guidelines raise questions over need for CLARITY Act
New crypto regulatory guidance from the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission has renewed scrutiny of the Digital Asset Market Clarity Act, known as the CLARITY Act. The agencies issued a 68-page joint interpretation that sets out criteria for treating most cryptocurrencies as non-securities and introduced a five-step token classification framework. The guidance overlaps with parts of the stalled bill, though market views differ on whether legislation is still necessary.