Is Kraken regulated in the US?

I'm curious about the regulatory status of Kraken in the United States. As a reputable cryptocurrency exchange, I would like to know if Kraken is subject to any regulatory oversight in the US. Are there any specific regulations or laws that Kraken must comply with in order to operate legally in the country? Additionally, what are the potential risks and benefits of using a regulated exchange like Kraken compared to an unregulated one? I'm eager to hear your thoughts on this topic.