The inquiry by the Commodity Futures Trading Commission centers on bets the former congressman made on Kalshi in the weeks before he was pardoned in January 2025.
The fate of two cotton brokers highlights how the Commodity Futures Trading Commission has scaled back its regulatory actions not just for crypto cases but also for the kinds of cases it has long policed.
The Commodity Futures Trading Commission, led by Michael S. Selig, has slowed enforcement. It has filed an average of one new complaint a month, one-fifth as many as during the Biden administration.
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