Bankless Making America the Crypto Capital of the World | New CFTC Chairman Michael Selig
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Mar 9, 2026 
Michael Selig, CFTC chairman and former SEC crypto task force counsel, talks regulation and market structure. He covers the CFTC’s evolving role in crypto. Prediction markets, perpetuals, Project Crypto and the Clarity Act get focused attention. Discussions include onshoring markets, intermediary definitions, and a pro-innovation tone for making the U.S. a crypto hub.
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Exchanges Must Vet Event Contracts For Manipulation
- Exchanges must assess each event contract for susceptibility to manipulation and insider trading before listing.
- Selig points to Kalshi policing trades (MrBeast employee case) as an example of exchange-level enforcement working in practice.
AI Enhances Market Surveillance Not Headcount
- The CFTC uses automated surveillance and AI tools to monitor markets, reducing reliance on manual processes.
- Selig says modern systems let the agency supervise vast derivatives markets without proportionally large staff increases.
CFTC Asserts Federal Jurisdiction Over Prediction Markets
- The CFTC filed an amicus brief asserting federal jurisdiction over prediction markets offered as exchange-traded derivatives.
- Selig stresses that derivatives on events listed on registered exchanges fall under CFTC authority, limiting state-level interference.