CFTC officials who questioned prediction markets were paused: NYT
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A New York Times investigation found that senior CFTC officials who raised concerns about Polymarket, Crypto.com and Gemini were suspended and pushed out.
Key facts
Polymarket received investment from Donald Trump Jr-backed venture capital firm 1789 Capital
President Trump only acts in the best interests of the American public,” Davis Ingle, a White House spokesman, told the outlet
Her senior counsel, Brigitte Weyls, became general counsel at Gemini Titan, the same company whose application she helped approve, the NYT claimed
Despite those concerns, then-acting CFTC chair Caroline Pham and her senior counsel intervened to help the firms get what they wanted, NYT
Summary
Senior officials at the Commodity Futures Trading Commission who raised concerns about prediction market companies were suspended, investigated and eventually pushed out of the agency. According to a New York Times investigation published Sunday, the officials had flagged concerns about Polymarket, Crypto.com and a Gemini affiliate, each with alleged business ties to the Trump family. Despite those concerns, then-acting CFTC chair Caroline Pham and her senior counsel intervened to help the firms get what they wanted, NYT. “But current and former agency staffers said in interviews that the commission’s work force took away a clear message: Don’t cause trouble for those industries,” the report wrote.