Mike Selig

We saw it with

know that gold in the early days right the government was able to confiscate that and so having the ability to self-custody your assets engage on chain freely censorship resistant blockchain rails are terrific prediction markets are a response to a lot of the gatekeepers in the media where they were putting out fake polls fake news reports you can check that with the ability to put assets at stake skin in the game

and really take a position on a future outcome.

And then AI and automation in our markets are really critical.

I think agents are going to be some of the most effective traders in our markets, but also helping us be more productive as everyday individuals.

And compute is a real new commodity that's really exciting to us at the CFTC as well.

from a regulation standpoint derivatives are some of the most creative and interesting financial instruments that we have they can be offered on virtually any type of underlying asset really what you're doing is taking a position on a future outcome in an event or the price of an asset that can be traditional assets like agricultural products metals all of that

Crypto now is a new asset class, but also events like sports and politics and geopolitics.

And so it's really important that we have the ability to manage risk, but also speculate on these things.

And the United States has always been the most free market country.

Ronald Reagan said, if we lose freedom here, we've got no place else.

And we need to protect our markets for that reason as well.

So having that innovation, I think, is great in our markets.

And the Commodity Exchange Act, our authorizing statute, the CFTC,

set up a federal regulatory framework for derivatives, for derivatives on all types of commodities.

And the definition of commodity includes all of these things because we don't want gaps in our regulatory framework.

It doesn't matter if it's sports or politics or anything else.

The prior administration really tried to hold up a lot of these interesting products and sports and politics.

And the court said that was arbitrary and capricious.

It struck that down.