TLDR
- CFTC Chairman Mike Selig said the agency will issue guidance on U.S. crypto perpetual futures within weeks.
- He stated that earlier regulatory approaches pushed crypto derivatives activity and liquidity offshore.
- Selig said the CFTC aims to establish professional perpetual futures products in the United States.
- He confirmed that the agency will clarify its approach to decentralized finance developers.
- Selig announced that the CFTC will soon release guidance on prediction markets.
U.S. regulators plan to outline a path for domestic crypto perpetual futures within weeks. CFTC Chairman Mike Selig said the agency will issue guidance soon. He spoke at a Milken Institute event in Washington and stressed faster action.
CFTC Moves to Establish Perpetual Futures Framework
Selig said crypto perpetual futures developed offshore because U.S. regulators avoided clear industry rules. He stated that prior policies pushed firms and liquidity outside the country. He added that the CFTC now works to bring professional futures products back to U.S. markets.
He said the agency expects to release guidance within the next month. “We expect to announce that very soon,” Selig told attendees. He explained that he can act independently because he is currently the only commissioner serving on the five-member CFTC panel.
He said the agency will define how it treats decentralized finance developers. He noted that past enforcement actions created uncertainty for DeFi builders. He added that the CFTC and the Securities and Exchange Commission coordinate their digital asset efforts under “Project Crypto.”
Selig and SEC Chairman Paul Atkins appeared together on stage. They emphasized a unified regulatory strategy for digital assets. They also said they support innovation exceptions to allow crypto experimentation without enforcement action.
SEC and CFTC Seek Clear Standards and Legal Certainty
Selig said the CFTC will issue guidance on prediction markets soon. He promised clear standards for firms offering event-based contracts. He said the agency also plans a broader rulemaking process to formalize that position.
He stated that guidance alone remains easy to reverse. Therefore, the agency aims to secure a more durable regulatory framework. He said oversight disputes continue with state gambling regulators over sports contracts.
Event contract firms such as Polymarket and Kalshi face scrutiny from state authorities. Selig said federal and state regimes can operate in parallel. “They can exist in parallel,” he told the audience.
Atkins addressed limits on agency authority during the same event. He said the SEC needs clearer statutory backing from Congress. “We really do need statutory certainty,” Atkins stated.
He explained that a U.S. Supreme Court decision reduced agency authority in court disputes. He said agencies now face stronger legal challenges to policy actions. He noted that Congress continues work on the Digital Asset Market Clarity Act.
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