Morning Minute: CFTC Clears Stock Perps, Gets Sued the Same Day
Summary
The CFTC said equity perpetual futures can be traded on CFTC-registered exchanges as security futures under joint CFTC and SEC oversight. Only seven venues currently meet the required registration criteria. Kalshi has filed to list 56–58 stocks, with a launch expected soon, while Coinbase has filed for contracts on Apple, Tesla and Nvidia. Hours after the CFTC announcement, the Capital Markets Alliance sued in New York to block the policy, and the American Securities Association argued federal law bars retail sales of security-based swaps. The dispute could shape whether regulated venues—and later crypto perps platforms—can offer stock perpetuals in the U.S.
