CFTC Chair Michael S. Selig said the agency is launching “Future-Proof,” a broad initiative to review and modernize CFTC rules so they better fit newer products and venue models.
The statement explicitly calls out digital assets, perpetual futures, and prediction markets as examples of products that have been forced into legacy frameworks that were not designed for them.
The chair’s framing is that rules built for agricultural futures can still fit those markets, but they often do not “contemplate nascent products or trading venues,” as described in the statement.
The initiative sets three clear direction signals.
CFTC staff are tasked with a comprehensive review of existing rules and regulations to modernize requirements and create “a level playing field for new entrants and incumbents alike,” .
The chair argues that “arbitrary, cumbersome and opaque rules will not stand the test of time,” and says the goal should be the “minimum effective dose of regulation,”.
The statement says this approach means an end to policymaking through enforcement, with “clear rules of the road” to be codified via notice-and-comment rulemaking.
A regulatory review like this can change market structure even before a single new rule is finalized.
First, it signals that the CFTC wants tailored frameworks for categories that have been growing in the gaps, especially crypto derivatives and prediction markets, which the chair notes have “exploded in popularity”.
Second, it is a venue strategy catalyst. When a regulator signals a preference for clearer, durable rules, platforms and lobby groups tend to accelerate efforts to shape definitions, registration categories, and compliance obligations that fit their business models.
Third, it can reprice regulatory risk. The chair directly ties Future-Proof to potential new responsibilities if Congress advances digital asset market structure legislation. Even without new legislation, the direction of travel can affect how venues plan listings, collateral policies, surveillance tooling, and jurisdictional exposure.
The initiative becomes real when it produces specific targets.
“Future-Proof” is an early signal that the CFTC intends to modernize its framework for digital assets and prediction markets through a structured rulemaking process, with a stated goal of fit-for-purpose oversight rather than enforcement-led policymaking. The next meaningful update is not commentary. It is the first set of specific rules the CFTC chooses to put on the table.
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