Today, House Agriculture Committee Ranking Member Angie Craig (MN-02) delivered the following closing statement at a full committee hearing titled “For the Purpose of Receiving Testimony from the Honorable Michael S. Selig, Chairman, U.S. Commodity Futures Trading Commission.” Watch the full hearing here.

[As prepared for delivery.]

Thank you, Mr. Chairman, and thank you Chairman Selig for your participation.

This Committee takes seriously its responsibility to oversee the CFTC’s work, and I believe today’s discussion has helped highlight both the challenges and the opportunities facing our agricultural producers, retail investors and the broader markets they rely on.

As Ranking Member of the Agriculture Committee, I am constantly reminded of the vital role our farmers, ranchers and rural communities play in our nation and economy and of the volatility that they have endured since President Trump has taken office.

At the very least, they should be able to trust, without a doubt, that America’s financial system and markets are reliable, stable and impartial – and that the regulators who take enforcement actions are capable and equipped to look out for the American people’s financial interests without political interference or favoritism.

Allegations of insider trading on prediction markets are serious concerns, and today’s discussion made clear that there are steps CFTC and Congress must take to ensure market integrity, protect consumers and meet the needs of businesses that use commodity markets to hedge risk.

I look forward to continuing this conversation in the coming days and months and encourage my colleagues on both sides of the aisle to work together to provide the CFTC with the funding and resources it needs to do the job we have set out for it to do.

Thank you.