Odaily Planet Daily report: Several senior officials from the U.S. Commodity Futures Trading Commission (CFTC), who had previously raised compliance concerns about prediction market platforms, were subsequently suspended, subjected to internal investigations, and ultimately forced to resign. The report stated that these officials had expressed concerns regarding Polymarket’s insufficient anti-fraud mechanisms, Crypto.com’s unfair treatment of small bettors, and Gemini’s affiliated entities’ failure to complete required regulatory reviews.
The investigation found that all the aforementioned companies were believed to have business ties to the Trump family. Sources said that then-CFTC Acting Chair Caroline Pham and her senior advisors intervened to help the related companies obtain regulatory approval.
By the end of 2025, two officials who raised concerns were administratively suspended and subjected to internal investigations; three additional officials responsible for crypto enforcement were treated the same way, with none informed of the specific reasons. The report stated that this created a signal within the CFTC of “don’t cause trouble for the industry.”
The CFTC significantly scaled back crypto enforcement during Trump’s presidency: under Biden, the agency launched over 80 crypto enforcement actions, while during Trump’s term, only two were initiated—and both targeted individual operators rather than large corporations. Additionally, Caroline Pham left to join MoonPay, which has partnerships with Polymarket; her former senior advisor, Brigitte Weyls, joined Gemini Titan as General Counsel. Current CFTC Chair Michael Selig previously served as corporate counsel for several crypto companies. (Cointelegraph)