The Commodity Futures Trading Commission (CFTC) announced on December 22 that Michael S. Selig was sworn in to serve as the regulator’s 16th Chairman. Chairman Selig was nominated by President Donald Trump to the post on October 27, 2025, and confirmed by the US Senate on December 18.

Selig took over the role after CFTC’s Acting Chairman, Caroline D. Pham, departed from public service. The regulator announced Pham’s departure on the same day, December 22, stating that she was initially sworn in as the CFTC Commissioner on April 14, 2022, after being nominated by the President, and unanimously confirmed by the US Senate.

She was then designated as the Acting Chairman on January 20, 2025, following the inauguration of President Trump.

It has been the honor of a lifetime to lead the CFTC during such a historic moment for market structure and innovation,” Pham said, adding that she is proud of the CFTC and all its dedicated staff for their hard wok and commitment to deliver on the pledge to get back to basics and regular order.

Chairman Selig Brings Public And Private Experience From Multiple Industries

Meanwhile, new Chairman Selig said: “I’m grateful for the confidence President Trump has placed in me and for the opportunity to lead the CFTC at this pivotal time.”

He added that this will be the start of a new chapter for the CFTC. “We are at a unique moment as a wide range of novel technologies, products, and platforms are emerging, retail participation in the commodity markets is at an all-time high, and Congress is poised to send digital asset market structure legislation to the President’s desk, cementing the U.S. as the Crypto Capital of the World.”

Commenting further, Selig added that he welcomes the vital responsibility to oversee the stability and security of America’s commodity derivatives markets during this period of rapid transformation. He also added that no agency is better suited to pioneer commonsense rules of the road for the new financial markets of America’s Golden Age than the Commodity Futures Trading Commission.

The CFTC announcement has noted that Chairman Selig will bring deep public and private sector experience to the role, as he has worked with a wide range of stakeholders across multiple industries, including agriculture, energy, financial, and digital assets. All of these industries rely on and operate in CFTC-regulated markets.