The Commodity Futures Trading Commission’s Innovation Advisory Committee holds its first meeting Thursday, with prediction markets on the agenda. Seven of its 35 members run companies at the center of the event-contract fight the agency is waging against nine state governments.
Key Takeaways
The CFTC’s Innovation Advisory Committee meets Aug. 20 on crypto, AI and prediction markets.Kalshi’s Tarek Mansour and Polymarket’s Shayne Coplan hold two of the 35 seats.The CFTC has sued nine states over event contracts, including Wisconsin.Chairman Michael S. Selig, who sponsors the committee, released the agenda on Aug. 13: crypto assets, artificial intelligence, and prediction markets. “I look forward to meeting with the entrepreneurs, thinkers, and builders of the CFTC’s Innovation Advisory Committee to discuss ways emerging technologies and financial products are shaping our markets,” Selig said. Michael Passalacqua serves as the designated federal officer.
Seven of them run event-contract venues or the sportsbooks competing with them. Tarek Mansour, chief executive of Kalshi, and Shayne Coplan, chief executive of Polymarket, both hold seats. So do Jason Robins of Draftkings, Fanduel president Christian Genetski, Robinhood’s Vlad Tenev, Crypto.com chief executive Kris Marszalek, and Bitnomial’s Luke Hoersten.
The crypto contingent is broader, with Brian Armstrong of Coinbase, Uniswap Labs’ Hayden Adams, Ripple’s Brad Garlinghouse, Gemini’s Tyler Winklevoss, Kraken co-chief executive Arjun Sethi, Solana Labs’ Anatoly Yakovenko, and Chainlink Labs’ Sergey Nazarov, alongside the heads of CME Group, Nasdaq, Cboe, Intercontinental Exchange, and the Depository Trust and Clearing Corporation, and investors including a16z crypto’s Chris Dixon and Paradigm’s Alana Palmedo.
