We were delighted to welcome Georgetown University alum Rostin Behnam (C’00), Chair, U.S. Commodity Futures Trading Commission in a wide-ranging conversation with Sonali Basak, Anchor and Global Finance Correspondent, Bloomberg TV at the Financial Markets Quality conference.
With regard to election betting, Chair Behnam said the CFTC has been consistent in its position over a decade: election betting is illegal and banned under state law. With elections and some other assets, it becomes hard to identify manipulation in markets, he added. Any one decision by a candidate — to retire for example — will impact the market.
Chair Behnam also discussed issues raised about credibility and integrity of carbon markets. We’re seeing a once in a generation shift in energy transition and the CFTC is trying to establish principles and guardrails around these markets: “Ultimately we want to see markets be the harringer of success.”
When it comes to crypto, there’s still a gap in regulation. He and his agency are “always on our backfoot” reacting to fraud and misconduct, he said. “I want to protect markets. I want to be on my front foot.”