Judge Lets Stock Perpetual Futures Keep Trading but Says CFTC Likely Overstepped Its Authority

Bitcoin Magazine Judge Lets Stock Perpetual Futures Keep Trading but Says CFTC Likely Overstepped Its Authority Stock perpetual futures can keep trading on Kalshi, Coinbase Derivatives and Bitnomial for now after a federal judge denied an emergency bid to halt them Tuesday, while finding that the Wall Street-backed challengers are likely to prove the CFTC overstepped its authority. U.S. District Judge Valerie Caproni denied the temporary restraining order on Nov. 3 after a teleconference with the parties, hours after the CFTC said the products could begin trading on U.S.-regulated exchanges. The plaintiff is the Capital Markets Alliance Association, a New York nonprofit whose members include Cboe Global Markets, Citadel Securities and the Healthy Markets Association, according to a declaration from its secretary, Adam Ford.

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