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CFTC chair Michael Selig used the Binance theft to argue for federal oversight of offshore crypto exchanges, saying U.S. registration would bring cybersecurity safeguards. Binance later said the breach involved more than one engineer's permissions, while David Bennett questioned whether the North Korea attribution could serve a regulatory agenda.
The CFTC sued Utah after Utah challenged Kalshi over alleged illegal gambling, asserting federal authority over prediction-market derivatives. Michael Selig called the CFTC's jurisdiction exclusive; David Bennett argues sports-outcome contracts are bets, while Utah says the platforms evade state gambling laws and taxes.
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