TechFlow News, June 10: According to The Block, U.S. Senator Elizabeth Warren sent a letter to Michael Selig, Chair of the U.S. Commodity Futures Trading Commission (CFTC), questioning whether the agency—amid staff reductions and declining enforcement activity—is capable of assuming broader regulatory responsibilities over cryptocurrency and prediction markets.
Warren noted that CFTC staffing has shrunk by approximately 25% and specifically cited the agency’s recent handling of matters involving Gemini, Polymarket, and Crypto.com. She also requested records related to staff reassignments, communications with prediction market companies, and outreach to the cryptocurrency industry regarding the Clarity Act.
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