CFTC Chairman Nominee Selig Advanced by Senate Panel

Michael Selig’s nomination to lead the US Commodity Futures Trading Commission was advanced by the Senate Agriculture Committee on Thursday.

If confirmed by the full Senate, Selig would lead the agency at a time when it’s set to take on significantly more responsibility. The once sleepy regulator, which traditionally oversaw the swaps and derivatives markets, is facing a shift as the burgeoning prediction markets industry pushes into sports betting and lawmakers weigh legislation to give the CFTC greater oversight over the crypto industry.

Selig has played a prominent role during the second Trump administration as chief counsel to the Securities ...