COINDESK · 2026-11-10 09:14 UTC

Coinbase, Kalshi, Kraken parent back CFTC in legal fight over stock perpetual futures

Coinbase, Kalshi, Kraken parent Payward, DRW Holdings, Jump Trading and Paradigm filed a letter supporting the CFTC in a lawsuit brought by the Capital Markets Alliance in the Southern District of New York. The CMA challenges the CFTC's approval of open-ended futures contracts for stocks, which it argues fall under SEC jurisdiction; the CMA says it is backed by Cboe and Citadel Securities. Coinbase, Kalshi and Payward applied to list U.S. stock perpetuals, which were deemed approved on Nov. 2; a CFTC spokesperson called the lawsuit 'troubling'.

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