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CFTC invokes FTX ghost 👻

CFTC invokes FTX ghost 👻

Michael Selig argued that prediction markets operating offshore in “unregulated space” could lead to an FTX-style collapse.

Stacy Jones
April 01, 2026

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📝 What you need to know

CFTC Chairman Michael Selig is sounding the alarm on prediction markets—warning that without clear federal rules, the sector risks the kind of spectacular collapse we saw with FTX.

In an interview, Selig said pushing these platforms offshore into unregulated territory is a recipe for disaster, and stressed that exchanges need to register in the U.S. with proper investor and customer protections in place. The comments come as prediction markets face heat from multiple directions: insider trading accusations involving figures close to the Trump administration, criminal charges from Arizona, and a court win for Nevada.

Selig's CFTC has responded with a proposed rule making process and a new Innovation Task Force to get ahead of the mess.

Agencies Must Create Clear Prediction Market Rules to Avoid FTX-Style ‘Implosions’: CFTC Chair

Michael Selig argued that prediction markets operating offshore in “unregulated space” could lead to an FTX-style collapse.

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