US House lawmakers discussed CFTC oversight of prediction markets like Kalshi and Polymarket, noting the agency's short-staffing. The proposed CLARITY Act could grant the CFTC more authority over digital assets and prediction markets, amidst a federal-state conflict over regulation, potentially reaching the Supreme Court.
Supreme Court Justices Elena Kagan and Amy Coney Barrett will testify before a House Appropriations subcommittee on July 14 regarding the court's fiscal 2027 budget request. This marks the first time justices have testified to Congress since 2019, amid heightened security concerns.
Consumer advocates argue the bipartisan Ratepayer Protection Act, despite tech backing, fails to shield the public from the true costs of booming datacenters, with voluntary measures and benefits for tech companies potentially increasing consumer expenses.
Crypto executives, policy researchers, and national security experts testified before a House subcommittee on modernizing anti-money laundering laws for AI and digital assets. Witnesses discussed the Bank Secrecy Act's limitations and proposed reforms.
