Multiple CFTC officials questioning prediction market regulation are suspended and forced to resign

Deep Tide TechFlow News: On May 24, according to a report by Cointelegraph, investigative reporting published by The New York Times on Sunday revealed that several senior CFTC officials who had previously raised regulatory concerns about companies affiliated with Polymarket, Crypto.com, and Gemini were subsequently suspended, subjected to internal investigations, and forced to resign. The three companies are all alleged to have business ties with the Trump family.

The report said that then-acting CFTC Acting Chair Caroline Pham and her senior adviser had stepped in to intervene and help the above-mentioned companies secure the approvals they needed. By the end of 2025, five officials who raised questions or enforced crypto regulatory rules were placed on administrative leave and subjected to internal investigations, and none were informed of the specific reasons. After Pham left, she joined the crypto firm MoonPay, which has a partnership with Polymarket, while her senior adviser Brigitte Weyls became the chief legal counsel for Gemini Titan—whose application was approved with her involvement.

On the enforcement front, the CFTC has withdrawn at least 5 crypto investigations, with the number of enforcement actions falling from more than 80 during the Biden era to just 2 during Trump’s term. In response, a White House spokesperson denied any conflicts of interest, saying, "President Trump will only act in the best interests of the American public."