House Agriculture Leaders Press Trump to Fill CFTC Seats

House Agriculture Committee Chairman Glenn “GT” Thompson (R-Pa.) and Ranking Member Angie Craig (D-Minn.) urged President Donald Trump to appoint commissioners to fill four open seats on the Commodity Futures Trading Commission, according to a joint letter released Friday. The request comes as the CLARITY Act, which would grant the CFTC expanded authority over spot digital commodity trading, advances in the Senate.

CFTC Staffing and Mandate Expansion

The letter emphasized that the CFTC will be “best served by a full five-member commission,” delivering “better regulations, more durable rules, and more sensitivity to the divergent views of key derivatives market stakeholders.” CFTC Chairman Michael Selig has served as the agency’s only commissioner since taking office in December following a wave of departures. The letter cited Selig’s April 16 testimony before the committee, where he outlined an aggressive rulemaking agenda.

Thompson and Craig also tied the appointment request to Trump’s budget proposal, which seeks increased funding for the CFTC. The agency currently operates with approximately 543 full-time staff, compared with about 4,200 at the Securities and Exchange Commission.

CLARITY Act Senate Advancement

The push for commissioner appointments follows the Senate Banking Committee’s 15-9 vote to advance the CLARITY Act, the crypto market structure bill that would grant the CFTC sweeping new authority over spot digital commodity trading. Two Democrats joined Republicans on the panel in supporting the measure. The House passed its version of the bill in July with 294 votes.

Legal Durability and Rulemaking

A bipartisan slate of commissioners could strengthen Selig’s rulemaking against legal challenges. Policies set by a sole commissioner may face greater vulnerability in court, an issue relevant as the CFTC defends state-level prediction market suits and prepares to formalize its stance on non-custodial software developers. The letter notes a full five-member commission can write “more durable rules.”

While the CFTC is intended to have a bipartisan commission of five members, there is no law requiring the commission to be full; the law only requires that no more than three members of any political party be appointed to the commission.

Potential Nominees and Legislative Proposals

Bloomberg reported in January that the White House was weighing a bipartisan slate including Optiver lobbyist Matt MacKenzie, Sen. Kirsten Gillibrand’s general counsel Bill Rockwood, and Jump Trading’s Ari Officer for the two Democratic seats, alongside Senate Agriculture Committee Republican counsel Nathan Anonick and Willkie Farr & Gallagher partner Chelsea Pizzola for the Republican slots. Trump has not formally nominated anyone since Selig took office.

Some Democrats want the question settled in statute. Sen. Amy Klobuchar (D-Minn.) has proposed an amendment to the Senate Agriculture Committee’s version of the market structure bill that would block new CFTC rules from taking effect until at least four commissioners are seated.