Cboe-backed group sues CFTC over single-stock perps approvals
The filing names Coinbase, Kalshi and Bitnomial and asks a court to block the regulator from classifying their contracts as security futures.
Key takeaways
- 1The lawsuit names three platforms: Coinbase, Kalshi and Bitnomial.
- 2YourKhabri noted the CFTC previously sued Utah over Kalshi, citing exclusive federal jurisdiction.
On Thursday, a consortium backed by Cboe filed a lawsuit against the U.S. Commodity Futures Trading Commission, seeking emergency relief to halt the agency’s approval of single-stock perpetual contracts on three platforms.
The complaint specifically names Coinbase, Kalshi and Bitnomial, arguing that the contracts should not be classified as security futures and requesting a court order to prevent their listing as such.
Cboe is a leading U.S. exchange operator that has expanded into crypto derivatives. Coinbase is a major cryptocurrency exchange, while Kalshi operates a regulated prediction market platform and Bitnomial offers crypto-linked contracts. YourKhabri reported on 27 October 2026 that the CFTC sued the state of Utah to block state enforcement against Kalshi, asserting exclusive federal jurisdiction over registered exchanges for event contracts.
The lawsuit highlights growing regulatory uncertainty around single-stock perpetual products, which could delay or reshape their rollout in the United States. Market participants will watch for the CFTC’s response and any court rulings, as the outcome may set precedent for how similar crypto-linked contracts are treated under U.S. securities law.
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