The Commodity Futures Trading Commission (CFTC) regulates the trading of futures and options markets in the U.S. Fund managers involved in trading commodity interests must adhere to CFTC regulations to avoid sanctions. Key requirements include registration as a Commodity Pool Operator (CPO) if managing a pool of funds that trade in commodities and adhering to strict reporting obligations. Compliance with CFTC regulations ensures that funds operate within the law, protecting investors from fraud and market manipulation while fostering fair market practices.