SEC Chair Says CFTC Is Equipped to Oversee Prediction Markets

Paul Atkins, chair of the U.S. Securities and Exchange Commission, dismissed concerns about the Commodity Futures Trading Commission’s ability to oversee prediction markets.

The Block reported on June 16 that Atkins told CNBC Mike Selig, a commissioner at the CFTC, is “a very capable person” when asked whether the agency has sufficient funding and capacity to supervise prediction markets.

Atkins added that Selig is doing an excellent job at the CFTC and working to understand the range of innovative financial products traded around the world.

In the U.S., debate over oversight of prediction markets has continued as the sector expands rapidly around platforms such as Kalshi, which offers markets tied to political, economic and sports events.

The CFTC, however, is much smaller than the SEC.

The CFTC has about 550 employees, compared with more than 4,000 at the SEC. Its budget request for fiscal 2027 was $410 million, versus $1.908 billion for the SEC.

As prediction markets grow quickly, the extent of the CFTC’s oversight and whether its authority should be expanded could become a key policy issue.