Trending Now - Trump Administration's CFTC Shakeup Favored Industry Allies
WHO:
The Daily Beast - Trump’s publicly traded media company partnered with Crypto.com last October on an exclusive prediction market venture.
The Daily Beast - Michael S. Selig, the CFTC chair, is a 36-year-old former corporate lawyer with ties to crypto firms.
The Daily Beast - Trump’s eldest son, Don Jr., is an investor in Polymarket through his investment firm 1789 Capital and serves as an adviser to Kalshi and Polymarket.
The Daily Beast - Michael S. Selig, a 36-year-old former corporate lawyer with ties to crypto firms, was appointed as chair of the CFTC in December.
New York Times - The Trump administration, Commodity Futures Trading Commission (CFTC), Trump family.
Cointelegraph - Senior CFTC officials, including those who raised concerns about prediction markets.
WHAT:
The Daily Beast - Polymarket’s value has increased nearly tenfold to $9.6 billion in the past eight months.
The Daily Beast - The CFTC has abandoned at least five investigations into crypto firms since Trump returned to the White House.
The Daily Beast - Polymarket’s value has increased to $9.6 billion in the past eight months following an investment from a venture capital fund where Don Jr. is a partner.
The Daily Beast - The CFTC has brought just two cases involving digital currencies and one involving prediction markets in the 16 months since Trump returned to the White House.
Truthout - A report indicated that CFTC staff were placed on leave after raising concerns about Trump-linked betting markets.
New York Times - The Trump administration ousted enforcers at the CFTC and appointed industry-friendly officials.
Cointelegraph - Senior CFTC officials who questioned prediction markets were suspended and pushed out.
WHERE:
New York Times - The events took place within the CFTC, a federal agency in the United States.
WHY:
The Daily Beast - The CFTC staff raised concerns that Crypto.com was giving large trading firms an edge over ordinary sports bettors without full disclosure.
Cointelegraph - The suspensions of CFTC officials were linked to their questioning of specific prediction markets, including Polymarket, Crypto.com, and Gemini.
New York Times - The changes at the CFTC coincided with the Trump family's involvement in cryptocurrency and prediction markets.
HOW:
The Daily Beast - CFTC staff who questioned Polymarket’s anti-fraud safeguards were put on administrative leave and later retired.
The Daily Beast - The CFTC has abandoned at least five investigations into crypto firms and pushed out senior career officials who had handled crypto enforcement.
New York Times - The administration's actions involved suspending officials and appointing new personnel aligned with industry interests.
(UPDATED May 25, 2026 13:55 UTC)
Trump’s media company has teamed up with Crypto.com on a prediction market venture that began last October, while the value of Polymarket has surged nearly tenfold to $9.6 billion over the past eight months. Meanwhile, the CFTC has dropped at least five investigations into crypto firms since Trump returned to the White House, amid concerns that Crypto.com was giving large trading firms an unfair advantage over regular sports bettors. In a related development, CFTC staff who raised questions about Polymarket’s anti-fraud measures were placed on administrative leave and subsequently retired.
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(UPDATED May 25, 2026 06:20 UTC)
Trump's eldest son, Don Jr., is making headlines as an investor in Polymarket through his firm 1789 Capital, and he also serves as an adviser to both Kalshi and Polymarket. Recently, Polymarket's value skyrocketed to $9.6 billion, largely due to an investment from a venture capital fund where Don Jr. is a partner, while the CFTC, under chair Michael S. Selig, has only pursued two cases involving digital currencies and one involving prediction markets since Trump returned to the White House. In a surprising move, the CFTC has abandoned at least five investigations into crypto firms and has seen the departure of senior officials who were previously involved in crypto enforcement.
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(UPDATED May 25, 2026 04:17 UTC)
A report from Truthout reveals that staff members at the Commodity Futures Trading Commission have been placed on leave after expressing concerns about betting markets linked to Trump. According to Cointelegraph, these suspensions are connected to the officials' inquiries into specific prediction markets, including Polymarket, Crypto.com, and Gemini. The situation highlights ongoing scrutiny within regulatory bodies regarding the intersection of politics and betting platforms.
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(UPDATED May 25, 2026 01:36 UTC)
The Trump administration has made significant changes at the Commodity Futures Trading Commission, ousting enforcers and appointing officials more aligned with industry interests. Senior CFTC officials who raised concerns about prediction markets have been suspended and pushed out amid these developments. This shift comes as the Trump family becomes increasingly involved in cryptocurrency and prediction markets.