US Senator Warren questions the CFTC's ability to regulate crypto and prediction markets.

According to Huoxun Finance, U.S. Senator Elizabeth Warren sent a letter to CFTC Chairman Michael Selig, questioning the agency's ability to assume greater regulatory responsibility for crypto and prediction markets. Warren pointed out that the CFTC has reduced its staff by approximately 25% and significantly decreased enforcement activity, suggesting that expanding its responsibilities would be a "disastrous recipe." She criticized the CFTC's handling of cases involving Gemini, Polymarket, and Crypto.com, stating that officials who raised concerns were sidelined. Selig, however, insists that prediction markets and event contracts fall under the CFTC's "exclusive jurisdiction" and has even sued several states attempting to ban prediction market platforms. Warren requested the CFTC to provide records of personnel changes, communications with prediction market companies, and information related to the Clarity Act.