Michael Selig, the new chair of the Commodity Futures Trading Commission (CFTC), has established an innovation committee aimed at shaping the agency's approach to prediction markets and digital assets. He announced the committee's formation on February 14, 2026, along with a rebranding of the Technology Advisory Committee to the Innovation Advisory Committee. This new panel will include influential figures such as Polymarket CEO Shayne Coplan, Gemini CEO Tyler Winklevoss, and Nasdaq CEO Adena Friedman. Selig emphasized the importance of leveraging technologies like artificial intelligence and blockchain to modernize financial systems. Selig's leadership comes at a critical time as Congress is considering legislation that could expand the CFTC's authority over the digital asset space. The agency has already taken steps to formalize its role in cryptocurrency markets, marking significant progress by allowing the first exchange to list regulator-approved spot crypto products late last year. This move signals a shift towards more structured oversight in a previously unregulated area. The committee will also tackle concerns surrounding prediction markets, which have faced scrutiny due to insider trading allegations and proposed restrictions on politically related betting. As the CFTC navigates these challenges, its actions could set important precedents for the regulation of both digital assets and prediction markets moving forward.