United States President Donald Trump has nominated two candidates to the Commodity Futures Trading Commission (CFTC), taking steps to address prolonged vacancies at the regulator as its oversight of prediction markets becomes increasingly contentious.
According to SBC Americas, the White House announced on November 12 that Nathan Anonick, a Republican Senate Agriculture Committee counsel, and Matthew Rowland, a longtime CFTC attorney associated with Democratic committee staff, had been selected for potential appointments. Both nominations require Senate approval before the candidates can join CFTC Chairman Michael Selig.
The decision comes after more than a year of significant disruption to the commission’s leadership. Selig has been its sole serving commissioner since December 2025, leaving him responsible for decisions affecting an expanding prediction markets sector, including disputes over the regulatory treatment of sports and political event contracts.
Trump’s announcement also included nominations for two positions at the Securities and Exchange Commission (SEC), marking the first time in approximately a year that the president has put forward candidates for vacancies at either regulator.
CFTC Moves Towards Restoring Its Bipartisan Structure
The CFTC is designed to have five commissioners, with representation from both major political parties. However, departures throughout 2025 left the agency operating with increasingly limited leadership.
Former Chairman Rostin Behnam left on February 7, 2025, followed by commissioners Summer Mersinger and Christy Goldsmith Romero on May 31. Kristin Johnson departed on September 3, leaving Caroline Pham as the sole commissioner. Pham had served as acting chair since January before Selig took over on December 22, 2025.
Trump’s latest nominations would give the agency three serving commissioners if both candidates receive confirmation, with two positions still vacant.
Anonick has been nominated as a Republican for a term ending in 2031, while Rowland, nominated as a Democrat, would serve a term ending in 2028. Their appointments would fill positions previously occupied by Behnam and Mersinger.
The extended vacancies had attracted criticism from lawmakers in both parties. In May 2026, House Agriculture Committee Chairman Glenn Thompson and ranking member Angie Craig called on Trump to nominate a full commission. They argued that broader representation would improve the regulator’s ability to carry out its responsibilities.
The nomination process had also become a source of disagreement between the White House and congressional Democrats. In July, the administration said Democrats had not provided recommendations for the vacant CFTC and SEC positions. Senate Minority Leader Chuck Schumer‘s office subsequently stated that it had submitted candidate names later that month.
The timing of Trump’s latest decision carries additional political significance. Democrats secured control of both chambers of Congress in the November election, although the change will not take effect until January 2027. Republicans therefore retain control of the Senate during the current lame-duck session and have an opportunity to advance the nominations before the new Congress begins.
However, the remaining legislative calendar leaves limited time for confirmation hearings and votes. The nominations are therefore not guaranteed to clear the Senate before Republicans lose their current advantage.
Selig welcomed both candidates following the White House announcement, congratulating them and expressing his interest in working with them if the Senate confirms their appointments.
Prediction Markets Face a Potential Change in Regulatory Balance
The nominations could have consequences for companies operating prediction markets, including Kalshi and Polymarket, which have benefited from the CFTC’s recent approach to the sector.
Under Selig’s leadership, the regulator has generally supported the industry’s position in disputes over federal oversight and the legality of event-based contracts. His decisions have helped shape the current regulatory environment while the commission has operated without its usual bipartisan membership.
If Anonick and Rowland are confirmed, Republicans would retain a two-to-one advantage among the three serving commissioners. However, Rowland’s appointment could introduce a more critical perspective into commission discussions, particularly given his previous work in enforcement.
Rowland spent almost five years in the CFTC’s enforcement division, beginning in the final period of the Obama administration and continuing into Trump’s first term. His professional background could provide a different perspective on regulatory decisions affecting prediction market operators.
The possibility of additional dissent within the commission comes as the CFTC continues to define its authority over event contracts.
In February 2026, the agency withdrew a proposal introduced under the Biden administration that would have prohibited certain political and sports event contracts. Selig had previously outlined plans to develop a new regulatory framework for prediction markets.
The regulator subsequently proposed in October that sports, political, cultural and weather-related event contracts should be explicitly classified as swaps. That position has become relevant to ongoing legal disputes concerning the division of authority between federal regulators and individual states.
The CFTC has also taken legal action against Utah over state restrictions affecting federally regulated prediction market operators. In another development, it issued an interpretation of impartial-access requirements that could restrict exchanges’ ability to impose geographic trading limitations. The interpretation has attracted attention because some exchanges face court orders requiring them to prevent trading in particular contracts in certain states.
Although the proposed appointments would leave Republicans with a voting majority, the potential presence of a Democratic commissioner could make future decisions less predictable for the industry.
Trump is also unlikely to fill the remaining two CFTC vacancies immediately, given the prospect of a Democratic-controlled Senate with as many as 56 members. The White House has yet to identify candidates for those positions.
The CFTC nominations must first pass through the Senate Agriculture Committee. The full Senate must subsequently vote on the appointments.
Separately, Donald Trump Jr., the president’s son, ended his advisory role at Kalshi on Thursday. The company pointed to his investment in Polymarket earlier in 2026, although he had continued advising Kalshi for several months after that transaction.