The U.S. Commodity Futures Trading Commission will reorganize its Division of Enforcement's task forces to end "regulation by enforcement" and instead focus on combating fraud and helping victims, CFTC's acting chairman said on Tuesday.

According to the CFTC’s announcement, the new structure will “more efficiently utilize the CFTC’s resources to prevent fraud, manipulation and abuse and ensure market integrity” as well as “provide enhanced governance and oversight of enforcement matters to prevent overreach and enhance consistency, fairness and due process.”

CFTC Acting Chair Caroline Pham appoints crypto expert Harry Jung as Chief of Staff. Leadership shakeup signals a potential shift in the crypto regulation approach.

Election event contracts offered by platforms like Kalshi Inc. stand to receive the Commodity Futures Trading Commission’s blessing under new acting Chairman Caroline Pham, who as a dissenting commissioner called for the agency to regulate political contract markets.