Analysis: The new CFTC chairman faces dual regulatory challenges in cryptocurrencies and prediction markets.

Michael Selig's appointment as the new chairman of the U.S. Commodity Futures Trading Commission (CFTC) comes at a critical time for the agency, which faces expanding its regulatory authority over crypto assets and the rapid growth of the prediction market. Currently, over 90% of trading volume on platforms like Kalshi comes from sports predictions, and the CFTC's stance on restricting the prediction market remains unclear. Selig previously opposed restricting sports betting and will face multiple challenges, including court litigation, personnel restructuring, and a shortage of regulatory resources. It is expected that the CFTC will increase protection for retail traders and carefully evaluate policy paths related to crypto and prediction markets.