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COINNeutralCoinbase supports CFTC in legal dispute over single-stock perpetual futuresnews
High materiality7/10

Coinbase and crypto firms back CFTC in court fight over U.S. single-stock perpetual futures

Nov 10, 2026, 9:37 AM EST1 sourcesAI-analyzed
Why it may matterVerify against the original reporting

A court decision on CFTC authority will determine whether U.S. exchanges can offer stock perpetual futures — a policy outcome that directly affects Coinbase’s ability to list and potentially earn fees from these products. The economic impact depends on the court upholding CFTC jurisdiction and the extent to which the approved listings proceed.

AI summary

What happened, with direct paths to the underlying reporting

Coinbase and several crypto firms asked a federal court to allow an amicus brief defending the CFTC’s authority over U.S. single-stock perpetual futures after the Capital Markets Alliance sued to reclassify those contracts; Coinbase and partners say listing applications were deemed approved Nov. 2.

  • Coinbase, Kalshi and Kraken parent Payward, alongside DRW Holdings, Jump Trading and Paradigm, requested federal court permission to file an amicus brief defending the CFTC’s authority to regulate single-stock perpetual futures.
  • The Capital Markets Alliance filed a lawsuit last week seeking to overturn the CFTC’s approval, arguing perpetual contracts without expiration should be classified as security-based swaps and not listed as CFTC-regulated futures.
  • Coinbase, Kalshi and Payward submitted applications to list perpetual futures tied to U.S. stocks, which the filing said were deemed approved on Nov. 2.

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