Mike Selig Highlights AI Role as Workforce Shrinks and Duties Expand
U.S. Commodity Futures Trading Commission Chairman Mike Selig told lawmakers that artificial intelligence is helping the agency manage growing oversight responsibilities despite major staffing reductions. Speaking before the House Agriculture Committee chaired by Glenn “GT” Thompson, Selig said AI tools are now integrated into surveillance systems and investigative workflows to improve efficiency as demands increase.
Agency records show roughly a quarter of the CFTC workforce has departed since 2025 under federal workforce cuts introduced during President Donald Trump’s administration. Even with fewer personnel, the regulator is taking on broader duties tied to cryptocurrency oversight and the fast-growing prediction markets sector. The agency’s upcoming budget request seeks funding for only three additional enforcement staff, bringing the total to 108 employees, still about 23% below the 140 staff members recorded in 2025.
Numerous Prediction Market Investigations Underway as Regulatory Pressure Grows
Selig confirmed that “numerous investigations” are currently underway involving prediction markets but declined to specify the number or focus. The CFTC is asserting jurisdiction over platforms such as Polymarket and Kalshi, which have grown from millions to billions in trading volume within a year.
Representative Angie Craig warned that the agency’s workforce is stretched too thin, while former Chairman Rostin Behnam had previously argued that additional staff would be necessary to effectively oversee expanding crypto and prediction market activity.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.