The US SEC chairman defended CFTC chairman Selig, saying he has the ability to regulate prediction markets and crypto businesses.

CoinFeed reported on June 16th that, according to The Block, SEC Chairman Paul Atkins stated in an interview with CNBC that although the CFTC has a much smaller budget and fewer staff than the SEC, Chairman Michael Selig is "highly capable" and is working to clarify global innovative products, including prediction markets and crypto assets. The CFTC plans to request a $410 million budget from Congress for fiscal year 2027, with approximately 550 employees, while the SEC has a budget of approximately $1.908 billion and over 4,000 employees.