Judge Lets Stock Perpetual Futures Keep Trading but Says CFTC Likely Overstepped Its Authority
A federal judge denied an emergency request to halt stock perpetual futures trading on Kalshi, Coinbase Derivatives and Bitnomial, though she found the challengers likely to show the CFTC overstepped its authority. The plaintiff is a New York nonprofit whose members include Cboe, Citadel Securities and Healthy Markets. The ruling leaves the products trading for now but signals legal risk to the CFTC's approach, which matters for traders using these venues.
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