Analysis · Regulation & Policy
Chairman Michael Selig attacks state shutdowns as federal regulator fights legal challenges across a dozen states and confronts pushback on equity perpetuals.
Key point 1 of 3
01
The CFTC sued Louisiana on Nov. 13, 2026, making it the 12th state targeted in the agency's effort to defend exclusive derivatives jurisdiction under federal law.
Key point 2 of 3
02
Louisiana's state court shut down more than 30 derivatives firms without notice, echoing criminal indictments filed against Kalshi executives in Utah.
Key point 3 of 3
03
Federal Judge Valerie Caproni warned the CFTC likely lacks statutory authority to allow retail single-stock perpetual futures, endangering new product suites.
Context
The CFTC is navigating parallel jurisdictional battles as states use local gambling prohibitions against prediction markets while traditional equity giants like CBOE and Citadel…
Why it matters
Exchanges including Kalshi, Coinbase Derivatives, and Bitnomial face operational halts across multiple US states alongside potential court-ordered suspensions of newly launched…
What to watch
The US Supreme Court's assessment of New Jersey's petition to resolve the circuit split on event contracts, alongside Judge Caproni's pending preliminary injunction ruling in the…
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