CFTC Chair Selig Eyes Crypto Prediction Markets, Pulls 2024 Rule and 2025 Advisory

New CFTC Chair Michael Selig signaled a pivot toward clearer federal oversight of crypto-linked prediction markets, according to Clear Street analyst Owen Lau. In public remarks at an SEC–CFTC harmonization event, he directed staff to withdraw the 2024 event contracts rule and a 2025 advisory, and to draft a new framework. Clear Street said Coinbase and Circle could benefit as prediction markets expand.