Coinbase, Kalshi, Kraken parent seek to back CFTC in stock perps fight

Some of crypto's biggest names are lining up behind the Commodity Futures Trading Commission (CFTC) in court. The fight is over whether Americans get to trade perpetual futures on individual stocks. Coinbase, Kalshi and four others back the CFTC in a fight over perpetual futures On the 9th of November, Coinbase, Kalshi, Kraken's parent Payward, DRW Holdings, Jump Trading and Paradigm asked a federal judge to let them file a brief backing the CFTC. What's the fight about? The Capital Markets Alliance Association (CMAA) sued to undo the CFTC's approval of single-stock perpetual futures. These six companies think the CFTC got it right. In the brief (shared by Coinbase's legal representative Molly Abraham), they argue these products already fit under existing US futures laws.

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