Trump appoints CFTC acting chairman Pham criticizes Biden's policies and plans to restart the direction of prediction market regulation

Commodity Futures Trading Commission (CFTC) has taken a strict regulatory stance on prediction market platforms such as (Kalshi and Polymarket), even resorting to litigation. This time, Caroline Pham, the acting chairman of the CFTC appointed by President Donald Trump (Donald Trump), criticized the Biden administration's 'anti-innovation' attitude towards prediction markets. She plans to convene a roundtable meeting with experts to review regulatory policies and find a more reasonable regulatory direction for prediction markets.

CFTC predicts that market policies are difficult to reverse immediately and plans to hold an expert meeting.

According to reports, the Commodity Futures Trading Commission (CFTC) has gradually tightened restrictions on the development of prediction markets in recent years. Pham pointed out that the enforcement position taken by the former CFTC Chairman Rostin Behnam was too harsh, which made it difficult for the CFTC to adjust its policies flexibly.

"The improper delays and anti-innovation policies in the past few years have severely restricted the CFTC from adopting a more reasonable regulatory approach," Pham bluntly stated that the current interpretation of event contracts by the CFTC has become a legal uncertainty black hole, severely constraining the new government's adjustment space."

In order to readjust policies, the CFTC is expected to convene an expert roundtable next month to discuss how to establish a clearer regulatory framework for prediction markets. Pham believes that this is a necessary first step to promote the prediction market.