Key Takeaways:
CFTC Chairman Michael Selig confirmed the agency is deploying AI and automation tools to surveil markets with a 20%-reduced staff since FY2024. Six Polymarket accounts reportedly earned $1.2 million betting on U.S. Iran strikes hours before the February 28th action, raising insider trading alarms. Selig called bipartisan crypto market structure legislation under the Clarity Act essential, urging Congress to send the bill to the president’s desk in 2025. Selig Calls Clarity Act Essential as CFTC Faces Congressional Heat Over Polymarket Insider Trading FearsSelig repeated a zero tolerance policy on insider trading throughout the hearing but declined to confirm or deny whether the CFTC is investigating any specific trades, saying doing so could compromise active investigations. He said the agency’s enforcement division, led by David Miller, a former CIA officer and Southern District of New York prosecutor, is actively staffing up.
