Michael Selig, chair of the Commodity Futures Trading Commission (CFTC), has stated that he will not wait for the appointment of additional commissioners to lead the regulatory agency before moving ahead on rulemaking related to digital assets and prediction markets. The CFTC, which normally has a bipartisan panel of five commissioners, has been criticized by lawmakers for unilaterally leading the agency on rules favoring crypto and predictions markets with no bipartisan group of commissioners. Selig has proposed rulemaking in March that could amend or issue new regulations over event contracts on prediction markets, and has been outspoken about claiming that the agency has "exclusive jurisdiction" over prediction markets as some companies face state-level lawsuits related to sports betting laws and proposed legislation to crack down on insider trading.