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CFTC Chair Michael Selig said autonomous AI agents could challenge financial rules built around human traders, and regulators need to adapt. At the agency's inaugural Frontier Forum in Washington, he offered the example of a refrigerator buying groceries with money earned from staking Ether, or even launching its own memecoin. An eToro survey found that 79% of U.S. millennial investors and 77% of Gen Z investors already used or were open to using AI to select or adjust their investments. Selig raised questions about whether AI agent developers would need to register, who would be liable if an agent went rogue, and whether a new know-your-agent (KYA) standard is needed. He also said AI could help smaller traders access risk management tools, but agents could react unexpectedly, similar models could create correlated trading behavior, and the speed of autonomous transactions could complicate market surveillance.
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- Polymarket faces renewed CFTC probe over U.S. access to offshore platform
The Commodity Futures Trading Commission is investigating whether Polymarket violated a 2022 settlement meant to bar U.S. users from its offshore platform, according to a person familiar with the matter. The probe is part of a broader investigation opened earlier this year, which followed a Wall Street Journal report that Polymarket paid content creators to post videos of simulated trades and fabricated wins. The CFTC is examining the platform's location-detection controls, its U.S. advertising, and the onboarding and protection measures of its U.S. platform, launched in late December. In 2022, Polymarket paid a $1.4 million civil penalty and stopped serving U.S. users, while earlier probes were closed in July 2025. Polymarket declined to comment, and the CFTC did not respond to a request for comment.
- CFTC sues Utah to block action against prediction markets
The CFTC filed a lawsuit on Monday against the State of Utah and Attorney General Derek Brown in the US District Court for the District of Utah, a week after Utah announced legal action against Kalshi and its affiliates to recover up to $60 million in profits from allegedly illegal betting. The CFTC argues that Utah is trying to bypass congressional intent to federally preempt state law by restricting CFTC-registered exchanges, and that the event contracts offered by Kalshi are swaps under the Commodity Exchange Act. Kalshi spokesperson Jacki McGavick said that as a national derivatives market overseen by the CFTC, Kalshi answers to federal law and no single state should have a veto over it. The article notes that similar disputes in several other states may ultimately require a Supreme Court decision, and that as of Tuesday the court had not said whether it would hear New Jersey's petition.
- U.S. CFTC rebuffs CME legal stance in consequential fight over perpetual futures
The CFTC filed a brief arguing that CME Group has not shown its business is harmed by the agency's new push into perpetual futures, so it lacks legal standing to challenge the policy. The regulator approved the first bitcoin perpetual from Kalshi in May and says it will regulate such products case by case as futures, while CME insists perps are swaps because they have no expiration date. The CFTC noted that CME's crypto futures volume has risen since the policy change and said CME cannot take one position in court and another on earnings calls. TD Cowen analyst Jaret Seiberg warned that rapid growth in perps during the litigation could complicate unwinding the market if CME prevails.
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