Several CFTC officials who questioned the regulation of prediction markets have been suspended and forced to resign.

2026-05-24 11:01:02
Shareshare
According to a New York Times investigative report, several senior CFTC officials who raised regulatory concerns about Polymarket, Crypto.com, and Gemini, companies with business ties to the Trump family, have been suspended, placed under internal investigation, and forced to resign. The report states that then-CFTC Acting Chair Caroline Pham and her senior advisors intervened to help these companies obtain necessary approvals. In late 2025, five officials who raised questions or enforced crypto regulations were placed on administrative leave and placed under internal investigation without being given specific reasons. After leaving CFTC, Pham joined MoonPay, a crypto company that partnered with Polymarket, while her senior advisor, Brigitte Weyls, became general counsel for Gemini Titan, whose application was approved with her involvement. On the enforcement front, the CFTC has withdrawn at least five crypto investigations, and the number of enforcement actions has plummeted from over 80 during Biden's presidency to only two during Trump's term. A White House spokesperson denied any conflict of interest, stating that President Trump would only act in the best interests of the American public.
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