News, data and analysis on tokenized assets, market design and digital economic systems.
The federal regulator of US derivatives markets, created by statute in 1974, which on 4 December 2025 used its existing authority to permit listed spot cryptocurrency products to trade on registered futures exchanges for the first time.
The federal regulator of US derivatives markets, created by the Commodity Futures Trading Commission Act of 1974 and operational from April 1975, with authority over designated contract markets, swap execution facilities, clearing organisations and leveraged retail commodity transactions. On 4 December 2025 it used that existing authority to permit listed spot cryptocurrency products to trade on registered futures exchanges for the first time, on the reasoning that leveraged retail commodity trading may lawfully occur only on a futures exchange. Its advance notice of proposed rulemaking of 12 March 2026, with comments closing 30 April 2026, asks how contract-market core principles, the public-interest test and margin should apply to event contracts, listings of which it counted rising from about five a year between 2006 and 2020 to roughly 1,600 in 2025.
Developments in which Commodity Futures Trading Commission is a named party, newest first.
The Commodity Futures Trading Commission approved a notice of proposed rulemaking on prediction markets, published in the Federal Register on 12 June 2026, setting out when event contracts on enumerated activities are contrary to the public interest. The…
The Senate Banking Committee released its version of the CLARITY Act on 11 May 2026 and advanced the crypto market structure bill out of committee that month. A further revision…
Intercontinental Exchange announced an additional $600m investment in Polymarket on 27 March 2026, adding to its earlier stake in the prediction-market platform. Separately the…
A divided panel of the US Court of Appeals for the Third Circuit affirmed a preliminary injunction in KalshiEX LLC v. Flaherty, holding that the Commodity Exchange Act preempts New Jersey's gaming laws as applied to sports event contracts traded on a CFTC-designated contract market, on both field and conflict preemption grounds. Judge Roth dissented, arguing that the presumption against preemption applies with particular force to gambling and that the two regimes can be complied with simultaneously.
The Commodity Futures Trading Commission ordered Tether to pay a $41m civil penalty, finding that between 1 June 2016 and 25 February 2019 the company misrepresented that every USDT in circulation was backed by an equivalent amount of fiat currency. The order found that Tether held sufficient fiat reserves to back tokens outstanding on only 27.6% of days in a 26-month sample from 2016 to 2018, and did not disclose that reserves included unsecured receivables and non-fiat assets.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
No tracking pixels. Unsubscribe in one click. We do not sell or share the list.