On May 9, Paul Atkins, the Chair of the U.S. Securities and Exchange Commission (SEC), stated in a public speech that the agency will focus on on-chain financial markets in the future. He noted that the existing regulatory framework is not fully compatible with automated, smart contract-driven protocols and emphasized the need for clear guidance through rule-making. This includes re-evaluating the roles of 'trading platforms,' 'broker-dealer trading platforms,' and 'clearing agencies' in on-chain scenarios, as well as addressing securities law and advisory law issues related to 'crypto custodians.' Atkins also expressed support for limited innovation exemption pathways and called on Congress to pass the Cryptocurrency Market Structure Act (the CLARITY Act) to provide long-term certainty through legislation. He warned that excessive regulation or uncertainty could push innovation overseas, and the U.S. should continue to lead global markets through understanding and adaptation. Regarding AI, Atkins mentioned that while artificial intelligence is unprecedented in scale, it essentially continues the historical trend of capability expansion, enhancing risk management and broadening investor access, while also being cautious of issues such as model opacity and systemic risk. The SEC will adhere to the principle of corporate responsibility in tool usage and will not mandate specific models or entrench existing technologies. According to PolyBeats monitoring, the probability of the CLARITY Act taking effect this year on the prediction market Polymarket is 75%.