Coinbase, Kalshi and Payward back CFTC in single-stock perp futures lawsuit

Coinbase, Kalshi and Payward have filed a motion for leave to submit an amicus brief supporting the CFTC in a lawsuit over its authority to regulate single-stock perpetual futures in the US. The filing is a procedural step in the case rather than a market-moving event, but it signals that major crypto firms want the CFTC's jurisdiction over these products upheld. Traders watching the regulatory status of perpetual futures in the US should note the industry's alignment with the agency.