CME Group CEO Terry Duffy accused the Commodity Futures Trading Commission of clearing contracts that traders can rig during the first meeting of the agency’s Innovation Advisory Committee. CFTC Chair Michael Selig interrupted him, calling the claim fake news. Since January 2025, roughly 2,500 self-certifications have been filed with the agency with zero objections, while four of the commission’s five seats remain vacant. Duffy cited the case of a Fort Bragg soldier who turned $33,034 into $409,881 on Polymarket by betting on US intervention in Venezuela, and a Trump teleprompter operator who cleared over $100,000 on Kalshi trading presidential speeches. CME has also sued the CFTC over Kalshi’s Bitcoin perpetual contract, which generated $1 billion in volume in its first week.
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