The CFTC has approved Gemini's Designated Contract Market license, enabling the launch of a prediction market and potential expansion into crypto futures and options. This approval comes as the regulatory landscape for prediction markets shifts, with increased support from current CFTC leadership.

The Senate Agriculture Committee has released a draft bill aimed at defining the roles of the CFTC and SEC in overseeing the crypto market. This draft will need to be merged with a similar proposal from the Senate Banking Committee, a process that could take months amid ongoing government budget disputes.

Caroline Pham, the interim head of the CFTC, is pushing to launch compliant retail spot crypto products and establish a dedicated enforcement unit. Despite Congress not granting additional authority, the agency is moving forward with plans to regulate spot trading, including the use of stablecoins as collateral.

Caroline Pham, acting chair of the CFTC, confirmed plans to introduce leveraged spot crypto trading on regulated exchanges as early as next month. This move aims to provide institutional oversight and risk management to crypto trading, which has previously been available mainly on offshore platforms.

Michael Selig, the new chair of the CFTC, has introduced an innovation committee to explore regulation of prediction markets and digital assets. This move coincides with ongoing Congressional discussions about expanding the agency's authority in the crypto space, amid rising concerns over insider trading in prediction markets.

The Senate Agriculture Committee is set to debate a major cryptocurrency market structure bill, which includes an amendment aimed at preventing conflicts of interest for politicians, specifically regarding President Trump's crypto dealings. Other amendments address issues like fake transactions at kiosks and delaying the bill's effectiveness until more Commodity Futures Trading Commission commissioners are appointed.

The U.S. SEC and CFTC announced that registered trading platforms can now facilitate the trading of certain spot crypto assets, marking a shift in regulatory stance and aiming to establish a clearer framework for the crypto market ahead of pending legislation. The agencies are encouraging market participants to engage with them to navigate this new opportunity, highlighting their commitment to support growth in the crypto sector.

Polymarket, a crypto-based prediction markets platform, has received approval from the CFTC to operate in the United States. The ruling follows a no-action letter regarding swap data reporting and recordkeeping regulations, paving the way for Polymarket's entry after a prior federal investigation was dropped.

Two federal investigations into the online prediction betting site Polymarket have concluded without any charges being filed, as confirmed by a source familiar with the matter. The investigations, conducted by the U.S. Justice Department and the Commodity Futures Trading Commission, looked into whether Polymarket was accepting bets from U.S. residents despite previous assurances not to do so. Polymarket's CEO, Shayne Coplan, has criticized the prior administration's actions against the company but has expressed gratitude towards the current administration for its support of crypto innovation.

U.S. CFTC Commissioner Kristen Johnson has announced her departure, leaving the agency with no sitting commissioners as it prepares for incoming chairman Brian Quintenz. Legal experts warn that the commission could face challenges if it operates with just one commissioner, raising concerns about its ability to effectively oversee the growing U.S. crypto market.

A new draft of a major crypto market structure bill in the U.S. Senate proposes establishing a joint advisory committee between the SEC and CFTC to harmonize digital asset regulations. The bill includes protections for DeFi developers, clarifies the treatment of airdrops, and exempts Decentralized Physical Infrastructure Networks from securities laws.