PANews, May 24: According to Cointelegraph, several senior officials at the U.S. Commodity Futures Trading Commission (CFTC) were suspended, subjected to internal investigations, and marginalized after raising concerns about cryptocurrency and prediction market platforms with alleged business ties to the Trump family. The platforms in question include Polymarket, Crypto.com, and affiliated companies of Gemini. The officials had pointed out that Polymarket lacked adequate fraud prevention mechanisms, while Crypto.com and Gemini treated small bettors unfairly and had not completed regulatory reviews. The report states that then-CFTC Acting Chair Caroline Pham and her senior advisors intervened in the approval process to assist these companies in advancing their regulatory applications and business interests. By the end of 2025, two officials who raised concerns were suspended, along with three cryptocurrency enforcement officers who also faced disciplinary action—all without being informed of the specific reasons.
CFTC officials questioning Trump-linked crypto firms face suspension
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Summary
CFTC officials who raised concerns about crypto market platforms linked to Trump face suspension and internal review. The platforms include Polymarket, Crypto.com, and a Gemini affiliate. The officials cited inadequate fraud prevention and unfair practices targeting small bettors. The Fear & Greed Index in the crypto market may reflect rising regulatory uncertainty. Former acting chair Caroline Pham and a senior advisor are alleged to have influenced the approval process. As of late 2025, two officials were suspended, and three others in enforcement were disciplined without explanation.
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