Morning Edition · Tuesday, October 20, 2026Published at 1:39 AM EDT · New York
The regulator says CME's own crypto volume rose after the policy change, while large offshore perpetual positions on Hyperliquid show where the demand currently trades.

The Commodity Futures Trading Commission (CFTC) has rejected CME Group's legal position in a lawsuit over crypto perpetual futures, contracts with no expiry date. CME sued on June 18, challenging the CFTC's May 29 order approving Kalshi's b…
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Part of a tracked trend
Prediction Markets Become a Federal-State Jurisdiction Fight
As event contracts grow, the CFTC and state gambling regulators will keep contesting who governs them. The likely result is repeated court rulings, state cease-and-desist actions and federal rulemaking that draw a recurring line between swaps and gambling. Prediction-market operators' addressable market and product scope will be set by how that line holds, not by demand.
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