Michael Selig (마이클 셀리그), chairman of the U.S. Commodity Futures Trading Commission (CFTC), has formalised his position that he is ready to oversee the broader cryptocurrency industry, valued at $3 trillion. As Congress delays legislation, he made clear his intent to expand the regulator’s role, and debate over who will lead digital-asset regulation is expected to intensify.

Cointelegraph, a blockchain media outlet, reported on April 1 that Selig said in a statement marking his 100th day in office, "I am ready to take on responsibility for the cryptocurrency market." The remarks came as the U.S. Senate debates the CLARITY Act, a cryptocurrency market-structure bill, and were interpreted as showing an intention to expand oversight authority regardless of legislative delays.

The CLARITY Act is currently facing delays at the committee stage due to differences over key issues, including whether to allow interest on stablecoins. Against that backdrop, Selig’s pre-emptive mention of an expanded role suggests an agency-led push is taking shape to fill a regulatory vacuum.

The CFTC also underscored its jurisdiction not only over cryptocurrencies but also over prediction markets. Selig said, "As with the cryptocurrency industry, prediction markets need regulatory clarity," and assessed that the market can perform a price-discovery function. He also reaffirmed the long-held position that prediction markets fall under the Commodity Exchange Act and that the CFTC is the sole regulator.

Regulatory conflict around prediction markets is in fact growing. Major platforms such as Kalshi and Polymarket have faced allegations from some state governments and federal lawmakers of violating gaming laws and evading regulation. Controversy is also widening as the possibility of improper gains using inside information has been raised in trading linked to political events.

The CFTC is taking a hard-line stance in response. Selig said it has exclusive jurisdiction over prediction markets and warned it would not rule out legal action against efforts that challenge its authority. David Miller (데이비드 밀러), the CFTC’s enforcement director, also said at a recent event, "Event contracts are swaps, not gaming," stressing they clearly fall under oversight.

The CFTC has also shown changes in its recent regulatory posture. Since Selig took office in December last year, policy signals have followed that partially ease the intensity of digital-asset regulation compared with the previous administration, and in March it signed a memorandum of understanding with the U.S. Securities and Exchange Commission (SEC) for supervisory cooperation. Still, the SEC is expected to continue regulating assets it considers securities, leaving unresolved how authority will be divided between the two agencies.

Political circles are also continuing separate legislative discussions. Some lawmakers are reported to be pushing legislation that would restrict public officials with inside information from participating in event contracts, after raising concerns that unusual signs were detected in prediction-market trades linked to military and diplomatic events.

Ultimately, attention is expected to focus on whether Congress passes the market-structure bill and how much supervisory authority the CFTC can secure in practice over the broader cryptocurrency and prediction markets.