Polymarket US Return Hinges on Sole CFTC Chair With Four Seats Empty

Four of five CFTC commissioner seats are vacant, leaving Chair Michael Selig as the sole decision-maker on whether to lift Polymarket's U.S. ban. The crypto-native prediction market platform is seeking approval to return to the American market. With no other commissioners in place to vote or dissent, Selig's unilateral authority over the decision removes the typical multi-member deliberation that characterizes CFTC regulatory actions. The vacancy crisis at the derivatives regulator has concentrated unusual power in the chair's hands at a pivotal moment for one of the industry's highest-profile platforms.