SEC and CFTC chairs push coordinated crypto oversight; Democrats introduce DEATH BETS Act to ban war/death prediction contracts

first published 2026-03-10T13:38:19Z

CFTC Chair Michael Selig said blockchain-enabled prediction markets can serve as “truth machines” that improve price discovery when participants back views with capital. Speaking at the FIA Global Cleared Markets Conference, he said the agency has directed staff to draft guidance for how event contracts should be listed and traded and plans clearer crypto-asset classification and guidance for developers of non-custodial software and DeFi. His remarks come while several US states (including Nevada, Massachusetts and Connecticut) have taken legal action against platforms such as Polymarket and Kalshi.

AI Analysis

Facts: CFTC Chair Michael Selig publicly endorsed blockchain prediction markets and directed staff to draft guidance and clearer crypto-asset classification and developer guidance. Offset: several US states are suing platforms including Polymarket and Kalshi. These are concrete regulatory signals that could improve legal clarity (mildly positive) but do not eliminate ongoing state legal risk, so short-term market impact is moderate-to-low.

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