As Prediction Markets Boom, the CFTC Is Losing Lawyers in Its Flagship Office
Barrons·2026-02-09 20:55
Core Viewpoint - The Commodity Futures Trading Commission (CFTC) is facing a significant reduction in its enforcement staff, particularly in its Chicago office, which has seen a drop from approximately 20 trial lawyers to just one, amidst a rise in cryptocurrency scams [1]. Group 1: CFTC Enforcement Division - The Chicago enforcement division of the CFTC has historically been a key player in major enforcement actions since the agency's inception in 1975 [1]. - This division has been involved in prosecuting significant cases, including actions against traders on the Chicago Mercantile Exchange in the late 1980s and recent civil charges against cryptocurrency fraudsters like Sam Bankman-Fried [1].