The US Commodity Futures Trading Commission is embracing artificial intelligence and automation to tackle its growing responsibilities, including the oversight of cryptocurrency and prediction markets, according to testimony from Chairman Mike Selig. Despite a significant decline in the agency's workforce under the Trump administration, with about a quarter of staff leaving since 2025, Selig emphasized the importance of AI tools in enhancing efficiency and effectiveness. The CFTC is facing increased demands to regulate new and rapidly expanding areas, including digital assets and prediction markets, with Chairman Selig acknowledging 'numerous investigations ongoing' in these areas. However, concerns have been raised about the agency's capacity to handle these responsibilities with a reduced workforce, prompting calls for increased funding and staffing to ensure effective regulation and enforcement.
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