Michael Selig, the newly appointed chair of the U.S. Commodity Futures Trading Commission (CFTC), is set to address significant regulatory challenges in the crypto and prediction markets. As the CFTC seeks to expand its oversight of crypto assets, Selig will navigate the complexities of a rapidly growing market. Currently, over 90% of trading volume on platforms like Kalshi is derived from sports betting, with the CFTC's position on prediction market limitations still uncertain. Selig, who has previously opposed restrictions on sports betting, faces additional challenges including ongoing court cases, personnel restructuring, and limited regulatory resources. The CFTC is expected to enhance protections for retail traders and carefully assess policy strategies concerning both crypto and prediction markets.