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ProphetX appoints two senior executives1 May 2026(PRESS RELEASE) -- ProphetX, America's #1 sports prediction market, announced the appointments of Bruce Fekrat as Chief Legal Officer and Gabriel Wong as Chief Compliance and Risk Officer. The dual hires represent a significant buildout of ProphetX's legal, regulatory, and compliance leadership team as the company advances its pending applications with the U.S. Commodity Futures Trading Commission to become the first regulated U.S. exchange and clearinghouse with a sports-native foundation, built to scale across event-driven markets. "With decades of combined experience at the intersection of innovative markets, financial technology, and regulation, ProphetX is thrilled to have Bruce and Gabriel join the team at this pivotal moment in our growth trajectory," said ProphetX CEO and Co-Founder Dean Sisun. "As we bolster our presence in Washington and build toward becoming the first federally regulated sports-native exchange, these are exactly the right people to advance ProphetX's mission." In November 2025, ProphetX filed dual applications with the CFTC to register as a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO). Last week, ProphetX submitted comments to the CFTC supporting the Commission's efforts to establish a clear, durable federal regulatory framework for sports event contracts and the broader prediction markets industry. ProphetX urged the Commission to, for the first time, utilize its express statutory authority under Section 4(c) of the Commodity Exchange Act (CEA) to establish a conditions-based framework for the listing of sports event contracts, with Section 4(c) providing a durable and direct basis for federal preemption of conflicting state gaming laws. Bruce Fekrat — Chief Legal Officer Fekrat brings an exceptional depth of expertise at the intersection of derivatives law, financial regulation, and policy. He has a deep institutional knowledge of the CFTC gained from his service as Chief Counsel to CFTC Commissioner Kristin Johnson. He spent eight years as Senior Special Counsel in the CFTC's Division of Market Oversight, where he led interdivisional teams developing foundational Dodd-Frank Act rulemakings and advised senior management and presidential appointees on enforcement and policy matters. He subsequently joined WilmerHale as Special Counsel, where he represented U.S. and international exchanges, clearinghouses, and derivatives intermediaries in complex regulatory and enforcement matters Fekrat then spent more than eight years at CME Group, rising to Executive Director and Associate General Counsel, serving as lead regulatory counsel across CME's equity, energy, metals, agricultural, FX, digital assets, and environmental product groups. Fekrat graduated summa cum laude from the University of Maryland College Park and earned his J.D. and LL.M. (in Securities and Financial Regulation) from Georgetown University Law Center. Gabriel Wong — Chief Compliance and Risk Officer Wong brings more than a decade of institutional risk management experience across regulated exchanges and innovative markets. He most recently served as Vice President of Risk Management at Crypto.com FCM, where he oversaw risk frameworks across one of the world's largest digital asset platforms. Prior to Crypto.com, Wong spent over a decade at Intercontinental Exchange (ICE), a global leader in operating regulated exchanges and clearinghouses, rising to Senior Director of Risk Management. Wong holds a B.S. from California State Polytechnic University, Pomona, an MBA from California State University, Fullerton, and a Master of Science in Finance from the Illinois Institute of Technology.
ProphetX appoints two senior executives
is republished from Online.CasinoCity.com.
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