United States: Commodities/Derivatives/Stock Exchanges

The Commodity Futures Trading Commission has proposed new regulations addressing conflicts of interest in vertically integrated market structures where exchanges and clearinghouses share common ownership with trading firms and intermediaries. The proposal introduces prescriptive safeguards including prohibitions on affiliate principal trading firms, enhanced disclosure requirements, and mandatory information barriers to address concerns about preferential treatment, misuse of nonpublic information, and mark

The Commodity Futures Trading Commission has issued a formal request for comment on establishing a regulatory framework for compute derivatives—financial products tied to the cost of computing power that support the AI economy. This groundbreaking initiative seeks to address the challenges of a fragmented, multi-hundred-billion-dollar compute market while positioning America to compete in the AI race through robust derivatives regulation.

The Ninth Circuit ruled that Kalshi's sports event contracts likely do not qualify as swaps under federal derivatives law, allowing Nevada to enforce its gaming regulations against the prediction market platform. This decision creates a direct circuit split with the Third Circuit's contrary ruling, setting the stage for a potential Supreme Court showdown...