BlockBeats News, August 6th, according to The Economist, Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), wrote that the global derivatives market's notional value has exceeded $120 trillion, with nearly half under CFTC's jurisdiction. As automated trading, artificial intelligence, algorithmic execution, and real-time decision-making become more prevalent, the U.S. will not introduce a regulatory model based on limited trading hours, a single exchange, and traditional screen-based trading markets.

Selig stated that CFTC has approved the first "true" Bitcoin perpetual contract as a futures contract and is exploring using regulated stablecoins as collateral. In addition to crypto assets, the U.S. also launched the first major exchange offering round-the-clock trading of gold futures this year. CFTC is also discussing the potential development of non-crypto asset perpetual futures with market participants.

He also mentioned that the prediction market falls within CFTC's exclusive jurisdiction and provides value in information aggregation, forecasting, and price discovery. Regarding the assertion by nine European financial regulators to consider prediction market event contracts as gambling, Selig believes that this view misunderstands the structure of such contracts and overlooks their role in economic indicators and election predictions.

Selig stated that cross-border regulatory cooperation remains valuable, but international agreements and regulatory arrangements should be continuously updated in line with market structure and technological developments. The U.S. will continue to set global standards by encouraging innovation and maintaining market integrity, rather than waiting for widespread international consensus to form.