Sidley Discusses CFTC Guidance, Advance Notice of Proposed Rulemaking for Prediction Markets
This article analyzes the CFTC’s latest guidance and proposed rulemaking efforts shaping the future of prediction markets, signaling a more assertive regulatory approach. It highlights key considerations for market participants, including contract design, manipulation risk, and engagement with regulators and industry stakeholders, particularly in the context of sports-related event contracts. (more…)
The CFTC’s Completion of “Enforcement Sprint” Offers Insight Into the New Administration’s Enforcement Approach
On September 4, 2025, the Commodity Futures Trading Commission (CFTC) issued six orders simultaneously filing and settling material compliance-related violations against 10 firms and imposing $8,325,000 in total penalties. These orders marked the completion of the “enforcement sprint” that Acting Chair Caroline Pham announced in March 2025, as well as the first application of the Division of Enforcement’s February 2025 Advisory on Self-Reporting, Cooperation, and Remediation (2025 Advisory).
Ian McGinley, Former Director of Enforcement for the CFTC, Joins Sidley’s Regulatory and Enforcement Practice
Sidley is pleased to announce that Ian McGinley has joined the firm as a Securities Enforcement and Regulatory partner in the Regulatory and Enforcement practice group in New York. Mr. McGinley was most recently the Director of Enforcement for the U.S. Commodity Futures Trading Commission (CFTC). At Sidley, he will focus on regulatory enforcement and white-collar criminal defense, with a particular emphasis on commodities and securities laws. He will also advise clients in civil and criminal matters involving digital assets.
