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The Commodity Futures Trading Commission has announced the inaugural membership of its Innovation Advisory Committee (IAC), a group that includes representatives from traditional market infrastructure, major crypto firms, and several companies tied to event-based trading and sports wagering.
In a Feb. 12 announcement, CFTC Chairman Michael S. Selig said the panel will help the agency “reflect market realities” and “future-proof its markets.” Selig, who will sponsor the committee, nominated Michael Passalacqua to serve as the designated federal officer. Together, the group will assist the regulator in developing “clear rules of the road” as technology transforms derivatives and commodity markets.
A who’s who of finance, crypto and sports betting
The CFTC appointed 35 members to the committee, blending traditional financial “plumbing” with digital-asset pioneers. The roster features leaders from the largest US exchanges, including:
- Cboe Global Markets CEO Craig Donohue
- Intercontinental Exchange CEO Jeff Sprecher
- CME Group CEO Terry Duffy
- Nasdaq Chair and CEO Adena Friedman
They are joined by infrastructure heads such as Options Clearing Corp. CEO Andrej Bolkovic and Depository Trust and Clearing Corp. President and CEO Frank LaSalla.
A significant share of the committee represents the crypto and blockchain sectors, including:
- Coinbase CEO Brian Armstrong
- Ripple CEO Brad Garlinghouse
- Uniswap Labs CEO Hayden Adams
Other notable members include executives from Crypto.com, Robinhood, Kraken, Gemini, Chainlink Labs, Grayscale, and Solana Labs. Venture capital perspectives will be provided by partners from a16z crypto, Paradigm, and Framework Ventures.
In a notable shift, the committee also integrates leaders from the sports betting and prediction market industries. The CFTC named FanDuel President Christian Genetski and DraftKings CEO Jason Robins to the panel, alongside Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour. These companies sit at the center of ongoing debates over how data and technology shape modern wagering and event-based trading products.
Defining the mission: Future-proofing US derivatives
The CFTC described the IAC as a resource for navigating “complex issues at the intersection of technology, law, policy, and finance.” The agency intends to use the group’s expertise to keep pace with innovations like artificial intelligence and blockchain, which are no longer side projects but core components of market design.
In his statement, Selig emphasized the need for American markets to remain competitive. “In America, we have the most transparent and well-regulated financial markets in the world, but we cannot assume that things will always be this way,” he said.
While the IAC offers a formal channel for industry leaders to raise concerns, the CFTC clarified that the committee’s views are advisory and “do not necessarily reflect” the official positions of the commission or the US government.
How the IAC will shape future rule making
Though the Feb. 12 release by the CFTC did not include a specific meeting schedule, the membership choices signal the agency’s priorities: balancing large incumbents with fast-growing firms linked to newer, outcome-based trading models.
This mix is expected to shape the regulator’s thinking on market structure, customer protections, and the use of automated risk-management tools. By bringing together the most recognizable names in finance, crypto, and sports betting into a single forum, the CFTC is signaling a more structured approach to regulating products that often move faster than the traditional rulemaking process.
