United States: Commodities/Derivatives/Stock Exchanges

On August 11, the CFTC announced that it exercised its emergency authority under Section 8a(9) of the Commodity Exchange Act (CEA) and ordered a federally regulated event-contract exchange to continue operating in accordance with the CEA’s Core Principles and normal practices.

On this episode of “An Ounce of Prevention,” host Andrew Good is joined by white collar defense and investigations partner Chad Silverman to discuss why prediction markets have become one of the hottest enforcement topics in the United States.

The Digital Asset Market Clarity Act promised to bring regulatory stability to the cryptocurrency industry, but faces mounting obstacles to congressional approval. With traditional banks opposing activity-based rewards provisions and law enforcement groups challenging anti-money laundering carve-outs, the bill's path forward has narrowed considerably.

Recent regulatory developments are reshaping the landscape for prediction markets, 24/7 equity trading, and fintech banking charters. From the CFTC's new guidance on event contract certifications to state attorneys general challenging high-cost lender applications, these five updates highlight critical compliance and structural changes across financial services. How will these evolving rules impact market participants and emerging financial technologies?

Steven Hollerbach, principal of Alcazar Energy Trading LLC, provides an insider's perspective on commodity trading and the critical function traders serve in maintaining energy market equilibrium. The discussion explores both physical and financial trading mechanisms, examining the split-second decisions that determine energy pricing, transportation, and delivery across the industry.

The SEC has announced a public roundtable for September 17, 2026, to explore the infrastructure, operational challenges, and investor protections needed for potential 24-hour trading in U.S. equity markets. Chairman Paul Atkins emphasized the importance of balancing expanded trading hours with robust safeguards as the Commission solicits public input on this significant market evolution.

Federal regulators are seeking to modernize derivatives trading frameworks while Kentucky challenges the CFTC's authority over prediction markets. The CFTC and SEC have issued multiple requests for public comment on portfolio margining harmonization and derivatives product definitions, while the House debates whether fintech firms should gain access to Federal Reserve payment systems.

Looking ahead to her November departure from the SEC, Commissioner Hester Peirce delivered what might be described as a farewell address to the U.S. Chamber of Commerce Capital Markets Summit.

Katten's Financial Markets and Funds Quick Take delivers monthly insights on regulatory developments affecting financial markets, covering SEC enforcement policy changes, CFTC framework updates, prediction market regulations, cryptocurrency task force initiatives, and Supreme Court decisions impacting investment companies and arbitration proceedings. This comprehensive roundup examines how regulatory agencies are adapting to emerging technologies while reshaping enforcement approaches and market oversight.