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Coinbase, Kalshi join lawsuit backing CFTC over US stock perp futures

Originally reported by CointelegraphPublished 10 Nov, 17:14 ISTAI analysis 10 Nov, 18:01 ISTRead the original article

What happened — 5 key points

1Coinbase, Kalshi, and four other firms have asked a federal court to accept a brief supporting the CFTC.
2The legal filing concerns perpetual futures tied to individual United States stocks.
3A traditional finance trade group previously sued the CFTC, arguing it exceeded its statutory authority.
4A federal judge questioned the CFTC authority but denied a request to halt trading immediately.
5The outcome of this lawsuit could determine how retail crypto and derivatives exchanges offer stock-linked contracts.

Key takeaway

Major crypto firms are defending the CFTC's authority to regulate stock perpetual futures, highlighting a broader regulatory tug-of-war over derivatives access for retail traders.

Short-term impact (days–weeks)

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Trading may continue for now, but legal uncertainty remains high while the preliminary injunction is reviewed.

Medium-term impact (1–3 months)

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The final court decision could clarify regulatory jurisdiction over perpetual contracts involving US equities.

Key risks

Potential changes to regulatory oversight of perpetual futures by US authorities.
Uncertainty regarding whether single-stock perpetuals will be classified as futures or swaps.
Ongoing legal challenges from traditional financial market participants.

This page summarizes and analyzes publicly reported news. Read the full story at the original source. AI-generated analysis — not financial advice.

What happened — 5 key points

1Coinbase, Kalshi, and four other firms have asked a federal court to accept a brief supporting the CFTC.

2The legal filing concerns perpetual futures tied to individual United States stocks.

3A traditional finance trade group previously sued the CFTC, arguing it exceeded its statutory authority.

4A federal judge questioned the CFTC authority but denied a request to halt trading immediately.

5The outcome of this lawsuit could determine how retail crypto and derivatives exchanges offer stock-linked contracts.