U.S. CFTC Chairman Calls on Congress to Advance Cryptocurrency and Election Betting Legislation

ChainCatcher News, CFTC Chairman Rostin Behnam stated at the SIFMA Annual Meeting that Congress is not expected to take action on cryptocurrency legislation in 2024. He urged Congress to focus on the regulation of crypto assets and election betting issues, emphasizing the importance of these areas. Behnam pointed out that although the FIT21 bill has passed in the House, it has not made further progress in Congress.

In addition, the legal dispute between the CFTC and the prediction market Kalshi continues, as Kalshi has begun offering betting services on the U.S. presidential election. The CFTC is working to overturn the court's ruling and seeks to regain regulatory authority over this area.