Mike Selig

The CFTC has sent two event-contract rule plans to White House review as it seeks to cement federal oversight of prediction markets. The move could intensify clashes with states arguing that sports-linked contracts on platforms such as Kalshi amount to gambling.

The CFTC has clarified that regulated derivatives firms may invest customer funds in tokenized versions of otherwise permissible assets if the digital form carries equivalent rights. The agency also said blockchain and distributed ledger systems can satisfy official recordkeeping obligations under existing rules.

U.S. market regulators are advancing crypto rulemaking after the Digital Asset Market Clarity Act failed to move forward. The push may give the sector near-term guidance, but agency action remains less durable than legislation.

The CFTC has sent an undisclosed crypto market proposal to the White House Office of Management and Budget after the CLARITY Act failed to advance in the Senate. The move comes as the SEC creates a five-year conditional route for qualifying tokenized-stock platforms and the CFTC offers no-action relief for certain passive software providers.

Hyperliquid’s HYPE token has surged to a new all-time high after a sharp recovery in trading activity and renewed optimism around potential US access to decentralized exchanges. Technical traders are watching whether the breakout above the prior ceiling can hold as the market turns its attention toward the $100 level.

CFTC Chair Mike Selig said the agency is preparing to use existing authority to shape crypto market rules if Congress does not pass the Digital Asset Market Clarity Act. The move could put the derivatives regulator at the center of U.S. digital asset oversight as Senate negotiations remain unresolved.

The CFTC has ordered Kalshi to continue operating in New York after the state sued to block its sports prediction markets. The move deepens a regulatory clash over whether event contracts fall under federal derivatives oversight or state gambling law.

CME Group is challenging the CFTC’s decision to allow crypto-linked perpetual futures on platforms including Kalshi and Coinbase. The dispute could influence how U.S. regulators define, approve and supervise always-on leveraged derivatives tied to digital assets and traditional commodities.

The U.S. Commodity Futures Trading Commission has ordered Kalshi not to reverse Michigan customer transactions tied to a state court order. The move deepens a broader clash between federal derivatives oversight and state efforts to treat certain prediction market contracts as illegal gambling.