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Federal judge says the CFTC likely lacked authority to approve Kalshi stock perpetual futures but lets trading continue, Gaming America reports
- Federal judge says the CFTC likely lacked authority to approve Kalshi stock perpetual futures but lets trading continue, Gaming America reports — Gaming America reports that on November 3 a federal judge in Manhattan found a group backed by Cboe and Citadel Securities is likely to prove the CFTC had no authority to approve stock perpetual futures for retail investors, but denied an emergency bid to block the contracts. Kalshi has listed four stock perpetuals on Qualcomm, McDonalds, Amgen and Costco at up to 4.9 times leverage, and the CFTC must answer the request for a preliminary injunction by November 6. (Gaming America)
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