CFTC’s Selig: Hopeful CLARITY Act Can Pass by July 4

Commodity Futures Trading Commission Chairman Michael Selig weighed in on prediction markets, insider trading enforcement and the outlook for crypto legislation. He said Congress is “at the finish line” on a compromise crypto market structure bill and hopes it can reach the president’s desk by July 4. Selig defended the CFTC’s oversight of prediction markets, applauding exchanges like Kalshi for tightening user requirements and stressing the agency’s “zero tolerance” policy on insider trading and market manipulation. He speaks with Joe Mathieu on Bloomberg’s “Balance of Power: Late Edition” at the Milken Institute Global Conference in Beverly Hills, California. (Source: Bloomberg)