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CoinDesk Podcast Network

CFTC Not Ready for Crypto's Expansion, Expert Warns

CoinDesk Podcast Network

CoinDesk

News, Business News, Tech News, Daily News

4.7698 Ratings

🗓️ 29 May 2026

⏱️ 25 minutes

🧾️ Download transcript

Summary

CoinDesk's The Policy Protocol hosts Rebecca Rettig and Renato Mariotti dig into the New York Times investigation of the CFTC and Kalshi's latest lawsuit against Minnesota before sitting down with Aaron Klein, senior fellow at the Brookings Institution. Klein argues that independent financial regulators have been turned into "subsidiaries of the White House," warns that the CFTC is not structurally up to the jurisdiction CLARITY would hand it, and makes the case that the SEC and CFTC should be merged. He also unpacks lessons from Dodd-Frank and the savings-and-loan crisis. Plus, Rebecca and Renato debrief on the CFTC staffing debate and name House Agriculture Chairman GT Thompson and Ranking Member Angie Craig as their People of the Week for their bipartisan push to fill out the CFTC commission. - Timecodes: 00:00 Welcome to The Policy Protocol 00:43 All Roads Lead to the CFTC 01:22 Unpacking the NYT's CFTC Investigation 02:41 Pendulum Swing: Reading the NYT in Context 05:11 Why the CFTC Needs Funding and Personnel 06:52 Aaron Klein Joins the Show 07:30 The History of the CFTC and the Great Salad Oil Swindle 08:10 Independent Regulators as White House Subsidiaries 09:39 Dodd-Frank Lessons for the CLARITY Era 11:47 The Case for Merging the SEC and CFTC 13:21 PolyMarket, Soft on Financial Crime, and CZ/Binance 15:06 SEC-CFTC Office Sharing and the Value of MOUs 18:16 Renato and Rebecca Debrief on the CFTC's Future 21:45 Trump on Prediction Markets and Expanded Jurisdiction 22:30 People of the Week: GT Thompson and Angie Craig 24:26 Tribute to Ondo CEO Nathan Allman 25:01 Closing Thoughts and Sign-Off

Transcript

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0:00.0

When Atkins and Seleague are merging the agency space, hats off to them.

0:03.3

When they're dropping enforcement action and firing lawyers that are pursuing them, then like vomit face.

0:16.5

Welcome to the policy protocol, a brand new show from CoinDes.

0:21.1

That gives you a bite-sized overview of all the happenings in crypto lawn policy from the past week.

0:27.6

This is your espresso shot of everything you need to know to be in the know.

0:32.9

I'm here with my co-host, Rebecca Reddick.

0:35.9

Rebecca, it has been an interesting week.

0:38.9

I mean, and I will tell you, if there's one thing that has stood out this week, it's four

0:44.2

letters, CFTC.

0:47.8

That's right.

0:48.9

I was going to say all roads lead to the CFTC this week.

0:52.2

I think there's been a lot of news running from Sunday and a big

0:58.5

article in the New York Times to lots of news even as current as Thursday when we saw Kulshi

1:05.5

Sue, the state of Minnesota over their pending rules for prediction markets. So let's jump into it.

1:12.7

Yeah, geez, I think, I don't know if that would be news. It would almost be news if they didn't sue

1:17.6

at this point. I feel like Al-C is litigating against every state. All right, well, let's talk about

1:22.9

that New York Times article. I mean, that was an investigative look at some of the activity in the CFTC

1:30.1

throughout the current administration. A lot of this had previously been reported, but I think

1:36.2

there's some very significant additional detail here, Rebecca. There was some prominent names

1:41.2

quoted. As somebody who has been practicing in CFTC land for quite some time, there was a lot of, you know, big names who had been at the CFTC.

1:51.2

And really, you know, if I was going to say from my perspective, from my vantage point, what the biggest takeaway was for me, it was how decimated the CFDC has been. I mean, really,

2:04.1

you know, what, you know, they should kind of show there. I mean, we've seen the numbers. I think

...

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