SEC Chair Paul Atkins Defends CFTC’s Ability to Oversee Prediction Markets Despite Smaller Staff

SEC Chairman Paul Atkins said the Commodity Futures Trading Commission (CFTC) is capable of overseeing prediction markets despite having about 550 employees compared with the SEC’s more than 4,000. According to NS3.AI, Atkins made the remarks while praising CFTC Chairman Mike Selig, saying Selig is working to understand innovative products traded worldwide. Atkins’ comments came as the agencies seek different funding levels. The CFTC requested a $410 million budget for the 2027 fiscal year, while the SEC requested $1.908 billion.