Odaily Planet Daily reported on 10 November 2026 at 14:30 China Standard Time (UTC+8) that Coinbase, Kalshi, Payward, DRW Holdings, Jump Trading and Paradigm had asked a court for permission to file amicus curiae briefs supporting Commodity Futures Trading Commission (CFTC) regulation of single-stock perpetual futures in the United States.
The requested briefs respond to a lawsuit filed the previous week by the Capital Markets Alliance (CMA). The CMA is seeking to overturn the CFTC’s approval of these products. It argues that stock perpetual contracts have no fixed expiration date and should be treated as “security-based swaps,” which cannot be listed on CFTC-regulated exchanges.
The firms say the Securities and Exchange Commission (SEC) has been involved from the start of the regulatory process, and that the SEC and the CFTC jointly solicited public comment.
The report describes an application to submit friend-of-the-court briefs. It does not report a ruling on the CMA’s challenge or a change in the products’ regulatory status.
Original report: Odaily