According to CoinMeta, the former chairman Chris Giancarlo, former committee members Brian Quintenz and Sharon Brown to Hruska, as well as the former committee member Steven Wallman, stated in a joint letter supported by Kalshi that regulation should be based on actual risk rather than the highest burden, in order to avoid overlapping rules that increase compliance costs. Kalshi estimates that the trading volume of offshore perpetual contracts has exceeded $9 trillion in 2025, compared to about $2.8 trillion two years ago. Chris Giancarlo mentioned that if U.S. regulations are adjusted to reflect actual risk, related liquidity is expected to flow back to the United States.