Coinbase, prediction-market platform Kalshi, Kraken parent Payward, DRW Holdings, Jump Trading and Paradigm have asked a U.S. court for permission to file an amicus brief supporting the Commodity Futures Trading Commission’s (CFTC) regulatory authority over single-stock perpetual contracts.
ChainCatcher reported the move on November 10, 2026, at 11:35:19 UTC+8, citing a post by Coinbase legal counsel Molly Abraham.
The six firms argue that, under the Commodity Exchange Act and the securities-futures regulatory framework established by the U.S. Congress in 2000, these products should be classified as securities futures rather than securities-based swaps.
They also contend that preventing innovative products from being listed in compliance with U.S. rules would only push trading activity offshore. The reported action is a request to submit a supporting court brief, not a court ruling on the products’ regulatory classification.
Source: ChainCatcher original article.