Coming off a busy 2024, we expect that 2025 will be a landmark year for the Commodity Futures Trading Commission (CFTC or Commission). Rostin Behnam’s resignation as Chairman on January 20 marked the end of the Biden administration’s leadership. The designation of Caroline Pham as Acting Chairman and President Donald Trump’s nomination of former Commissioner Brian Quintenz to serve as the Commission’s 16th Chairman were major steps toward a new chapter for the CFTC.
We recently published an alert that examines these recent CFTC leadership changes and the related policy shifts that could significantly impact both regulatory policy and enforcement at the agency in the year ahead.
To give context to what 2025 may have in store, it is useful to understand the notable regulatory and enforcement events from 2024. We also discuss a few key issues like cryptocurrencies, artificial intelligence (AI), event contracts, and conflicts of interest among affiliated entities.
As the landscape continues to evolve, members of the WilmerHale Futures and Derivatives Practice are closely monitoring developments and remain available to support market participants in navigating this dynamic environment.
