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CME Group CEO Terry Duffy publicly clashed with CFTC Chairman Michael Selig over the agency’s approach to regulating prediction markets, BeInCrypto reported.
At a meeting of the CFTC’s Innovation Advisory Committee, Duffy said around 2,500 products had been filed through self-certification since 2025, but the CFTC had not objected to a single one. Duffy argued some products could violate rules barring contracts that are easily susceptible to market manipulation. Selig pushed back, calling Duffy’s example fake news and saying the case Duffy cited did not involve products traded in the United States. One of the examples raised by Duffy was said to have occurred on Kalshi, a U.S. prediction market overseen by the CFTC.