Coinbase, Kalshi join lawsuit backing CFTC over US stock perp futures

Coinbase, Kalshi and four other companies backed the CFTC in a lawsuit over whether US exchanges can list perpetual futures tied to individual stocks.

Coinbase, Kalshi and four other companies asked a federal court Monday to accept a brief backing the United States Commodity Futures Trading Commission (CFTC) in a lawsuit over perpetual futures tied to individual US stocks.

According to a proposed amicus brief shared Monday by Coinbase legal representative Molly Abraham, the group also includes Kraken parent Payward, trading companies DRW Holdings and Jump Trading, and crypto investment company Paradigm Operations. The companies argue that stock perpetual futures fall under existing US futures laws.

The filing comes days after a federal judge found that the CFTC likely “exceeded its statutory authority” in allowing single-stock perpetuals to trade as security futures.

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