CFTC appoints first members of Innovation Advisory Committee

The Commodity Futures Trading Commission (CFTC) has unveiled the first members of its Innovation Advisory Committee (IAC), including top executives from prediction market operators such as Kalshi, Polymarket and Crypto.com. 

Kalshi CEO Tarek Mansour, Polymarket Founder & CEO Shayne Coplan and Crypto.com CEO Kris Marszalek were all appointed as IAC members, along with figures such as DraftKings CEO Jason Robins, CME Group Chairman & CEO Terry Duffy and FanDuel President Christian Genetski. 

“Today marks an important and energizing moment at the CFTC as the Innovation Advisory Committee takes shape,” CFTC Chairman Michael Selig said. 

“The IAC’s work will help ensure the CFTC’s decisions reflect market realities so the agency can future-proof its markets and develop clear rules of the road for the Golden Age of American Financial Markets.”

Selig will serve as the main sponsor of the IAC and previously nominated Michael Passalacqua as the Committee’s designated federal officer. 

The CFTC Chairman continued: “America is home to the most transparent and well-regulated financial markets in the world, but we cannot assume that this will always be the case.

“By bringing together participants from every corner of the marketplace, the IAC will be a major asset for the Commission as we work to modernize our rules and regulations for the innovations of today and tomorrow.”

The Committee will act as an “important resource” for innovation in the derivatives and commodity markets, according to the CFTC. 

The IAC will also assist the CFTC in determining how “breakthrough innovations,” such as artificial intelligence (AI) or blockchain technologies, can enable the Commission to form “adaptive regulations” and maintain “robust” financial oversight. 

Additional members of the IAC include Robinhood CEO Vlad Tenev, Coinbase CEO Brian Armstrong and Nasdaq Chair & CEO Adena Friedman.