The US Commodity Futures Trading Commission is leveraging artificial intelligence to offset the impact of significant staffing reductions, according to Chairman Mike Selig's testimony before the House Agriculture Committee. Despite a decline of roughly 25% in the agency's workforce since 2025, largely due to President Donald Trump's directives to downsize the federal workforce, the CFTC is tasked with overseeing burgeoning areas such as cryptocurrency and prediction markets. Selig emphasized the utility of AI tools, such as Microsoft's Copilot, in enhancing surveillance and investigative capabilities, allowing the agency to operate more efficiently.
When questioned about staffing shortages, Selig assured lawmakers that the CFTC is adapting effectively. Committee Chairman Glenn 'GT' Thompson expressed concerns about the agency's capacity to handle its expanded responsibilities, particularly in digital assets and prediction markets, and sought assurances that Selig would request additional support if needed. The CFTC is pursuing regulatory clarity, including a preliminary rulemaking process for US prediction markets and policy initiatives in crypto, despite facing challenges such as accusations of insider trading in prediction markets and the need for enhanced resources to police these rapidly evolving sectors.