Michael Selig’s nomination to lead the US Commodity Futures Trading Commission was advanced by the Senate Agriculture Committee on Thursday.
If confirmed by the full Senate, Selig would lead the agency at a time when it’s set to take on significantly more responsibility. The once sleepy regulator, which traditionally oversaw the swaps and derivatives markets, is facing a shift as the burgeoning prediction markets industry pushes into sports betting and lawmakers weigh legislation to give the CFTC greater oversight over the crypto industry.
