CFTC Chair Rostin Behnam has called on Congress to address issues in crypto regulation and election betting. Speaking at the Securities Industry and Financial Markets Association's annual meeting, he emphasized the need for legislative action on regulating crypto spot markets and exploring blockchain's impact on financial markets. While he doesn't expect progress this year, he anticipates potential legislation in 2025. One pending bill, FIT21, aims to expand the CFTC's authority over digital commodities like Bitcoin. Behnam also highlighted challenges with election betting markets, specifically the legal battle with predictions market Kalshi over offering election contracts. Despite a federal appeals court ruling against the CFTC, the agency continues to push for the ruling to be overturned. Source: The Block