Statement From Rep. Adams Following House Agriculture Committee Hearing With CFTC Chairman Selig

WASHINGTON, D.C. - On April 16, 2026, Congresswoman Alma S. Adams, Ph.D. (NC-12), Member of the House Agriculture Committee, released the following statement after questioning Commodity Futures Trading Commission (CFTC) Chairman Michael Selig at a Committee hearing:

"Today's hearing raised serious and unanswered questions about the direction of the CFTC under Chairman Selig's leadership - and the American people, farmers, and investors deserve straight answers.

"First, I am deeply concerned that Chairman Selig has indicated a willingness to advance major new regulations without a full complement of commissioners in place. Rulemaking of this magnitude requires the full deliberative process the agency was designed to carry out - not unilateral action by a single sitting commissioner.

"Second, when I pressed the Chairman on what specific rule changes have already been made to help farmers and producers, his response was vague at best. If rules affecting American farmers and ranchers have been changed, those changes must go through proper notice-and-comment procedures. Bypassing that process is not just a procedural concern - it is a matter of transparency and accountability to the very producers this agency is supposed to serve.

"Third, I find it troubling that when a private trading platform like Robinhood has taken voluntary steps to protect its customers from manipulative 'mention contracts,' the CFTC has yet to act. The Chairman's repeated deferrals to the rulemaking process cannot become a shield against addressing clear and present risks to market integrity. These are contracts already trading on registered U.S. exchanges, and the CFTC has both the authority and the obligation to act.

"Finally, I am alarmed that it has now been more than six months since the close of Fiscal Year 2025 - which ran from October 1 through December 31 - and the CFTC has still not published its annual enforcement report, a document that would primarily reflect the record of Chairman Selig's predecessor. When I asked the Chairman directly whether it was his decision to withhold that report, he did not give a clear answer. The public has a right to know who made this decision and why. Delaying or suppressing an enforcement report is not consistent with the zero-tolerance policy the Chairman claims to uphold.

Transparency, accountability, and due process are not bureaucratic inconveniences - they are the foundation of a market watchdog that the American people can trust. I will continue pressing the CFTC for answers."

You can view the Congresswoman's questioning here.