Senator Elizabeth Warren has raised concerns about the U.S. Commodity Futures Trading Commission's (CFTC) ability to regulate prediction markets and cryptocurrencies impartially, citing potential conflicts of interest involving President Trump. In a letter to CFTC Chair Michael Selig, Warren pointed to a 25% workforce reduction and a drop in enforcement actions from 58 to 11 since Trump took office. She referenced a New York Times report describing the agency as "steamrolled" by the industry, and highlighted decisions benefiting companies linked to Trump, such as approval of Polymarket requests after an investment by Donald Trump Jr., fast-tracking a Gemini offshoot, and sidelining staff who questioned Crypto.com. Warren demanded records of communications and a list of employees placed on leave by June 18. Critics like Nic Puckrin of Coin Bureau warned of a "two-tier justice system," while XYO co-founder Markus Levin argued the CFTC needs blockchain expertise for proper oversight. The inquiry comes as Congress considers the Clarity Act, which would expand CFTC authority over crypto markets.

Key facts

• Warren cites 25% CFTC workforce cut and 81% drop in enforcement actions since Trump took office.
• Decisions benefiting Trump-linked firms include Polymarket approval after Trump Jr. investment.
• Former CFTC nominee Quintenz released texts where Winklevoss pressured him to prioritize Gemini.
• Warren demands CFTC records of communications and staff leave list by June 18.
• Critics warn of two-tier justice and need for blockchain expertise at CFTC.