According to CoinMeta, former Chairman of the U.S. Commodity Futures Trading Commission (CFTC) Gary Gensler stated in an interview with various media outlets that as the predictive market rapidly expands, Congress needs to further clarify the regulatory boundaries between risk management products and gambling, especially regarding disputes surrounding sports betting contracts. Currently, related lawsuits are ongoing in multiple states in the United States, and he believes these disputes may ultimately end up before the U.S. Supreme Court. Speaking about the prospects for future crypto regulation in the U.S. after the failure of the CFTC to advance its agenda in the Senate, Gensler mentioned that regulating the spot market with existing authorities is akin to piecing together a framework using "tape and paper clips," and argued that regulatory agencies currently need to establish rules that can be sustained over the long term.