US President Donald Trump selected Michael Selig, currently chief counsel for the CFTC’s crypto task force, to lead the commission, according to the report. Selig and David Sacks confirmed the selection in separate posts; the source describes it as a nomination and does not report Senate confirmation.
The nominee’s selection may shape oversight of derivatives markets, including digital assets, if confirmed.
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CFTC chair nominee Brian D. Quintenz told a US Senate committee that event contracts could serve purposes allowed under the Commodity Exchange Act, including contracts tied to sports. He said conflicts between the CFTC’s interpretation and state gambling laws would be best resolved by Congress, and that he would engage with tribal stakeholders. He did not explicitly approve sports contracts or tribal offerings.
Nevada Governor Joe Lombardo selected Mike Dreitzer as the next chair of the Nevada Gaming Control Board, with Dreitzer expected to begin after the legislative session ends in June. The governor's office said Dreitzer is leaving Gaming Arts and will provide transition services; he is to replace Kirk Hendrick, who announced he was stepping down.
Donald Trump voiced support for prediction markets in a Truth Social post, criticising Democratic officials who have acted against the sector. The CFTC has filed lawsuits against Illinois, Minnesota, Arizona and Connecticut, while state-level restrictions and congressional proposals remain part of the debate, according to the report.
Gemini is reportedly preparing to launch event markets through its exchange, after filing with the CFTC to operate a derivatives exchange. The company previously said it planned contracts covering economic data, financial markets, politics and sports; no launch approval is confirmed in the report.
US President Donald Trump urged Congress to pass the Clarity Act at a White House meeting with cryptocurrency and financial-industry executives. Prediction-market representatives were not invited, and a person familiar with the meeting said the administration had decided to focus on crypto; the CFTC’s Innovation Advisory Committee was due to meet the following day.