SEC Backs CFTC As Coinbase, Kalshi Face Legal Fight Over US Stock Perpetuals

The Securities and Exchange Commission (SEC) has jumped into a legal battle over perpetual derivatives linked to individual U.S. stocks. It submitted a court brief in support of the Commodity Futures Trading Commission (CFTC), which is suing the Capital Markets Alliance (CMA). The intervention emphasizes the increasing division among the regulators as to who should