According to Odaily Planet Daily, several senior officials at the U.S. Commodity Futures Trading Commission (CFTC) who raised compliance concerns about prediction market platforms were subsequently suspended, subjected to internal investigations, and ultimately forced to resign. The report states that these officials raised concerns about the following companies: Polymarket lacked adequate anti-fraud mechanisms; Crypto.com did not treat small-stakes users fairly; and Gemini's affiliated companies had not completed necessary regulatory reviews. The investigation indicated that all of these companies were believed to have business ties to the Trump family. Sources say that then-acting CFTC Chair Caroline Pham and her senior advisors intervened to help these companies obtain regulatory approval. By the end of 2025, two officials who raised concerns were administratively suspended and placed under internal investigation, and three other officials responsible for crypto enforcement faced similar treatment, without being given specific reasons. The report states that this created a "don't create trouble for the industry" signal within the CFTC. The CFTC significantly reduced its crypto enforcement efforts during the Trump era: during Biden's term, the agency initiated over 80 crypto enforcement actions, while during Trump's term, it initiated only two, both targeting individual operators rather than large corporations. In addition, Caroline Pham joined MoonPay, which has a partnership with Polymarket, after leaving the company; her former senior advisor, Brigitte Weyls, joined Gemini Titan as general counsel. Current CFTC Chairman Michael Selig has also previously served as corporate lawyer for several crypto companies. (Cointelegraph)
Several CFTC officials who questioned prediction market platforms have been suspended and marginalized.
2026-05-24 10:56:31
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