US CFTC chair vows to support blockchain, prediction market innovation

Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), said that outdated regulations must not be allowed to hinder innovation. He noted that a new technological revolution is underway, with artificial intelligence (AI), blockchain, and prediction markets rapidly changing the landscape. Selig emphasized that in the coming years, the CFTC plans to focus on: - Ending jurisdictional disputes and coercive regulation with the U.S. Securities and Exchange Commission (SEC). - Establishing regulations for cryptocurrency perpetual futures and prediction markets.