Coinbase and Kalshi Side With CFTC in Stock Perpetuals Dispute
A coalition is asking the CFTC to retain authority over perpetual futures tied to U.S. stocks amid a growing regulatory split.
A coalition is asking the CFTC to retain authority over perpetual futures tied to U.S. stocks amid a growing regulatory split. This is an original Token Times brief synthesising 2 outlets (CoinEdition, Unchained), plus live market data, as of Tue, 10 Nov 2026 15:45:01 UTC.
The dispute could determine which federal regulator oversees a new type of derivatives product and shape how stock-linked perpetual futures are offered in the United States.
- Coinbase and Kalshi support CFTC oversight of stock-linked perpetual futures.
- Six crypto and trading firms filed a brief backing the CFTC.
- Opposing exchanges and brokers want U.S. stock perpetuals blocked.
- Crypto markets are flat, while Bitcoin fell 0.90% over 24 hours.
CoinEdition and Unchained both report that Coinbase, Kalshi and other trading firms are supporting the CFTC’s authority over perpetual futures linked to U.S. stocks. CoinEdition frames the issue as an expanding regulatory conflict as crypto-style perpetuals enter traditional stock markets, while Unchained provides more procedural detail: six firms filed a brief opposing a trade group of exchanges and brokers that wants the products blocked. The outlets do not contradict each other, although neither supplies a quantified market size, implementation timeline or final regulatory decision.
A regulatory contest is developing over perpetual futures that track U.S. stocks. CoinEdition reports that Coinbase, Kalshi and several other major trading firms are backing the Commodity Futures Trading Commission’s authority over these products as their presence in the traditional stock market raises questions about agency jurisdiction. Unchained adds that six crypto and trading firms submitted a legal brief supporting the CFTC. Their position opposes a trade group representing exchanges and brokers that is seeking to prevent perpetual futures on U.S. stocks from operating in the country. The two accounts agree on the central institutional divide and the involvement of Coinbase and Kalshi. CoinEdition emphasizes the broader shift from perpetual futures in crypto markets toward stock-linked products, while Unchained focuses on the court filing and identifies the opposing trade group. Neither account reports a ruling, deadline or estimate of how much trading volume is at stake.
CoinEdition describes growing US interest in perpetual futures as the trigger for the jurisdictional dispute. The mechanism at issue is regulatory authority: the participating firms want the CFTC to oversee the contracts, while the opposing group is trying to block the products rather than allow them under an agreed US framework.
The broader crypto market remains stable, with total capitalization at $2.54 trillion and little overall movement. 
Bitcoin is down 0.90% over 24 hours, while the Fear & Greed index stands at 32, classifying sentiment as fearful. No coin is specifically linked to the regulatory filing, so the supplied market data provides general context rather than evidence of a direct token-level reaction.
Figures and sectors in this story, checked live against on-chain aggregators · November 10, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Coinbase and Kalshi Side With CFTC in Stock Perpetuals Dispu — questions & answers
Which regulator do Coinbase and Kalshi support?
They support CFTC authority over perpetual futures tied to U.S. stocks.
Who wants stock-linked perpetual futures blocked?
A trade group of exchanges and brokers is seeking to prevent the products from launching in the United States.
Has the CFTC issued a final decision?
No. The supplied coverage describes a legal brief and an unresolved jurisdictional dispute, not a final ruling.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from CoinEdition, Unchained, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.