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cftc
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CFTC Sues Cash FX Group Over Alleged $950M Forex Ponzi That Promised 15% Weekly Returns
The CFTC sued Cash FX Group, its CEO Huascar Jose Lopez Castillo, and three others on September 25, 2026, alleging a $950 million forex Ponzi scheme that promised up to 15% weekly returns and left participants down at least $406 million.
CFTC Staff Expands Crypto FAQ to Cover Tokenized Customer Funds and Blockchain Recordkeeping
CFTC staff updated its crypto FAQ on September 24 to cover investing customer funds in tokenized permitted investments and using blockchain to meet recordkeeping rules, building on earlier tokenized-collateral guidance.
Kalshi denies CFTC investigation, calls repetitive ether trades a liquidity-program artifact
Kalshi says the CFTC has not contacted it and no formal examination exists, disputing WSJ reporting that regulators were reviewing near-identical trades in its ether perpetual market.
CFTC staff warns on "mention markets," citing manipulation risk in bets on what people say
The CFTC's Division of Market Oversight issued a staff advisory on September 22, 2026, warning that "mention market" event contracts carry a heightened manipulation risk and outlining limited conditions for listing them.
CFTC to Launch Public "Frontier Forum" Roundtables, Starting With AI and Agentic Finance
The CFTC's Innovation Task Force will launch a Frontier Forum roundtable series on financial technology, opening October 28, 2026 with a session on AI and "agentic finance.
Kalshi's crypto perps draw wash-trading accusations; its product lead says the volume math is being misread
A quant analyst accused Kalshi's new crypto perpetual futures of wash trading, citing a 174-to-1 volume-to-open-interest ratio and repetitive $5,500 trades; Kalshi's product lead said the figures reflect a standard payout-based volume convention, not fake activity.
CFTC Said to Clear a Path for Crypto Apps to Offer Regulated Derivatives
The U.S. CFTC has moved to let crypto apps offer users access to regulated derivatives, according to Decrypt, though the agency's specific mechanism and scope were not detailed.
CFTC Staff Won't Pursue Passive-Software Providers Over Broker Registration
The CFTC's Market Participants Division said on September 17, 2026 it won't recommend enforcement against passive-software providers that fail to register as introducing brokers, subject to conditions.
Crypto.com's Nadex registers with the SEC for single-stock futures; perps still pending
Crypto.com's CFTC-regulated Nadex exchange registered with the SEC to trade security futures, effective mid-September, while CEO Kris Marszalek says the firm is separately seeking approval for single-stock perpetual futures.
Decrypt Says the Clarity Act Has Failed and US Regulators Are Pressing On — but the Details Aren't Confirmed
Decrypt reports that the Clarity Act — the US crypto market-structure bill — has failed, and that the SEC and CFTC are pressing ahead on crypto oversight under existing authority; the vote details and the agencies' specific steps could not be independently confirmed.
CFTC Wins $6M Default Judgment Against Florida Man Over Options Fraud
A federal court entered a default judgment ordering Michael Frederick Staryk to pay more than $6 million over a commodity options fraud scheme that took money from at least 26 U.S. retail clients.
CFTC Says It Paid Out Over $150M to Whistleblowers in Three Months
The CFTC said it granted 10 whistleblower awards totaling more than $150 million between July and September 2026, without naming the tipsters or the cases behind them.
CFTC Sets 30% Default for Whistleblower Awards Under $5 Million, Matching SEC
The CFTC finalized a rule creating a 30% presumption for whistleblower awards of $5 million or less, aligning its program with the SEC's approach.
CFTC Wins $547K in Consent Orders Against Two Salesmen in Commodity Pool Fraud Case
A federal court ordered Steven Likos and Archie Rice to pay a combined $547,261 and banned both from trading over their roles soliciting customers for two commodity pools tied to Traders Domain FX.
CFTC moves to dismiss CME's perpetual-futures suit, calling it "much ado about nothing"
The CFTC has asked a federal judge to throw out CME's lawsuit over its approval of crypto perpetual futures, arguing the exchange can't show any concrete financial harm.
CFTC Staff Hands Electron Exchange Relief on Large-Trader Reporting for Direct Participants
The CFTC's Division of Market Oversight granted Electron Exchange DCM a no-action letter on September 2, 2026, letting the exchange file large-trader reports for its direct participants as if its contracts were exclusively self-cleared.
XRP jumps 40% while traders cut leverage and shift futures toward CME
XRP rose nearly 40% in two weeks to about $1.38, yet total futures open interest fell 16% while CME's share of outstanding positions climbed to roughly 17% from 10%, per CoinGlass and CFTC data cited by CoinDesk.
CFTC and SEC Push Form PF Compliance Deadline to July 2027
The CFTC and SEC jointly pushed the compliance deadline for the 2024 Form PF amendments back nine months to July 1, 2027, while they reconsider rules they have since proposed to change or scrap.
Kalshi hands George Santos its first-ever lifetime ban for betting on himself
Kalshi permanently banned former U.S. Representative George Santos and fined him roughly $71,000 for trading on, and making misleading public statements about, his own attendance at Trump's State of the Union address.
Ninth Circuit says Nevada can regulate Kalshi's sports contracts, splitting with an earlier ruling and pointing toward the Supreme Court
The Ninth Circuit ruled on August 28 that Nevada's gaming laws likely apply to Kalshi's sports event contracts, rejecting the argument that federal commodities regulation preempts the state and deepening a court split over who governs prediction markets.
Hyperliquid's policy arm asks the CFTC to open a US path for oil perpetuals
The Hyperliquid Policy Center and trade[XYZ] filed a comment letter Wednesday asking the CFTC to build a regulated path for onchain oil perpetual futures in the US, citing a weekend Middle East supply shock that hit while dated futures markets were shut.
CFTC proposes letting swap venues drop order books for 'permitted transactions'
The CFTC voted to publish a proposed rule scrapping the requirement that swap execution facilities maintain an order book for permitted transactions, citing thin usage; comments run 30 days.
CFTC ends its FTX cases against Ellison and Wang: bans yes, money no
The CFTC has closed its fraud cases against Caroline Ellison and Gary Wang with backdated trading and registration bans and no monetary penalties, citing their cooperation and an $11.02 billion criminal forfeiture order.
CFTC chair sets Aug. 20 debut for Innovation Advisory Committee, with no roster or agenda attached
CFTC Chairman Mike Selig said on Aug. 18 that the agency's Innovation Advisory Committee meets for the first time on Aug. 20, offering no roster, agenda or public meeting notice.
CFTC proposes carving SEC-registered advisers out of commodity pool registration
The CFTC proposed exempting some SEC-registered advisers from commodity pool operator and trading advisor registration, and would raise the small-pool threshold for inflation, with 45 days for comment.
CFTC staff tells exchanges their prediction-market incentive filings aren't good enough
The CFTC's Division of Market Oversight told exchanges on August 12 that a growing number of self-certified market-maker and incentive-program filings for event contracts are arriving with procedural or substantive defects.
CFTC declares a market emergency at Kalshi's request — and orders the exchange to keep trading
The CFTC invoked emergency authority on August 11 to order Kalshi to keep operating, twelve days after New York's attorney general sued to bar the exchange's event contracts nationwide and sought more than $36 billion.
CFTC sues Goliath Ventures and its CEO over alleged $397 million crypto Ponzi scheme
The CFTC filed a civil complaint in Florida federal court alleging Goliath Ventures and CEO Christopher Delgado ran a Ponzi scheme that took at least $397 million from roughly 1,600 customers.
CFTC sets Aug. 20 for the first meeting of its Innovation Advisory Committee — agenda and membership still undisclosed
The CFTC will convene the first meeting of its Innovation Advisory Committee at 1 p.m. on Aug. 20 in Washington, though the agency has not published an agenda or a membership roster.
Judge to Coinbase on prediction-market preemption: 'applesauce'
A federal judge in Michigan refused to shield Coinbase from state gambling enforcement over sports event contracts, calling the exchange's federal-preemption arguments "applesauce.
CFTC fines UBS's brokerage arm $8M over FX wire monitoring gaps, including a fix that broke
The CFTC fined UBS Financial Services $8 million over four and a half years of gaps in monitoring foreign-currency wires, including a 2021 system replacement the firm then misconfigured.
CFTC fines George Santos $35,000 for trading an event contract on whether he would show up to the State of the Union
The CFTC settled with former Rep. George Santos on July 31 over trades in a Kalshi event contract on his own State of the Union attendance, imposing disgorgement, a penalty and a three-year trading ban.
CFTC tells prediction markets to stop filing cookie-cutter event contracts
The CFTC issued a second advisory in recent months warning prediction-market operators like Kalshi and Polymarket to stop filing broad, template-style event-contract self-certifications instead of detailing each product.
CFTC staff extends dormancy relief for Kraken's rebranded futures exchange
The CFTC's Division of Market Oversight granted Kraken Derivatives Exchange — the futures venue formerly known as Small Exchange — a time-limited extension of earlier no-action relief tied to dormancy procedures.
CFTC tells exchanges to stop bundling event contracts into one catch-all filing
The CFTC's Division of Market Oversight told exchanges on July 24, 2026 to stop filing broad, template-style self-certifications that bundle many event-contract variations into a single filing, saying the practice blocks proper review.
CFTC buys itself another month on 24/7 futures and energy "perpetuals"
The CFTC pushed its public-comment deadline back 30 days to August 26, 2026, on whether to permit 24/7 trading of standard energy futures and to list perpetual contracts referencing physical or storable energy commodities.
CFTC Ends Routine Large-Trader Position Reporting for Physical Commodity Swaps
The CFTC issued a final order ending Part 20's routine daily and event-based position reports for physical commodity swaps, while keeping recordkeeping and special-call powers in place.
CFTC Overrides Michigan Court, Orders Kalshi to Settle Cancelled Trades
The CFTC on July 14 stayed a KalshiEX emergency rule change and invoked emergency authority to force the exchange to settle trades a Michigan court had ordered cancelled, escalating a national fight over who regulates prediction markets.
Prediction markets hit $50B in World Cup's first month as sportsbook apps fade
Prediction markets Kalshi, Polymarket and Robinhood's Rothera cleared a combined $50 billion in monthly volume during the 2026 World Cup's first month, drawing first-time and female bettors as traditional sportsbook apps faded.
CFTC Freezes CME's Bid to Launch 24/7 Crude Oil Futures Trading
The CFTC on July 9 froze CME's self-certified contract that would have launched 24/7 crude oil futures trading as early as July 10, saying the exchange bypassed an open review of round-the-clock trading.
CFTC's Selig presses Senate on Clarity Act, warns regulators will fill the vacuum
CFTC Chair Michael Selig urged the Senate to pass the crypto market-structure Clarity Act before its August recess, warning that regulators would otherwise set the rules by default after Congress missed a July 4 target.
CFTC Sues North Carolina Trader Over Alleged $14M Ponzi-Style Commodity Pool
The CFTC filed a fraud complaint on July 7, 2026 against North Carolina trader Trevor L. Vernon and his firm Argent Capital Management, alleging a $14 million Ponzi-like commodity pool that faked profits from 2022 to 2026.
Illinois passes a 0.2% crypto transaction tax; CFTC chair calls it planning "from an ivory tower"
CFTC Chair Michael Selig publicly attacked Illinois over its new 0.2% tax on crypto transactions, which was signed into law last month and takes effect in January 2027.
Coinbase brings crypto-style perpetual futures to equity indexes
Coinbase Derivatives said it would launch four cash-settled, perpetual-style equity index futures — tracking AI, Chinese ADRs, defense, and the Nasdaq top 100 — on its CFTC-regulated US exchange in June 2026.
CFTC Opens a Rules Review, Inviting the Public to Name What Should Go
The CFTC opened a Request for Information on June 16 asking the public to flag rules, guidance, and no-action letters it should reconsider to ease competition for fintech firms.
CFTC Opens Comment Period on 24/7 Futures and Energy 'Perpetual' Contracts
The CFTC on June 22 opened a public comment period on letting standard futures trade around the clock and on introducing perpetual futures tied to physically delivered or storable energy commodities.
CFTC Sues Kentucky, Claiming State Is Trying to Shut Down Markets It Doesn't Regulate
The CFTC filed suit against Kentucky on June 23, 2026, seeking to stop the state from using its own laws to shut down federally registered contract markets, which the agency says fall under its exclusive jurisdiction.
CFTC proposes new data-reporting rules for event contracts, opens public comment
The CFTC published a proposed rule on June 25 seeking public comment on new data-reporting requirements for certain event contracts, amending Parts 15, 16, and 17 of its regulations.
CFTC hits two offshore firms with $2.5M over illegal leveraged retail trades
The CFTC on June 29 ordered offshore firms Netrios LP Ltd. and Red Acre Ltd. to pay $2.5 million combined for illegally offering leveraged or margined retail commodity transactions to U.S. customers off-exchange.
SEC and CFTC Ask the Public Three More Questions About Harmonizing Derivatives Rules — and Propose Nothing
Over two weeks in June 2026, the SEC and CFTC issued three joint requests for public comment on harmonizing derivatives rules — product definitions, data reporting and portfolio margining — but proposed no actual rules.
CFTC Clears Path for Exchanges to Convert Crypto "Perp-Style" Futures into True Perpetuals — But the Relief Has Already Lapsed
The CFTC's Division of Market Oversight issued a no-action letter allowing registered exchanges to strip expiration dates from digital-commodity futures and create true perpetuals, but the relief expired June 30.
CFTC Opens 21-Day Comment Window on Fintech Rules It Says May "Unduly Impede" Firm Partnerships
The CFTC issued a Request for Information seeking public input on which of its own rules may impede fintech partnerships, acting under Trump's Executive Order 14405 without naming any specific target.
CFTC Escalates Multi-State War Over Prediction Markets, Suing Kentucky and New Mexico to Assert Exclusive Federal Jurisdiction
The CFTC has gone on the offensive, suing New Mexico and Kentucky in federal court to assert exclusive federal jurisdiction over prediction markets like Kalshi against state gaming laws.
CFTC moves to replace its 2017 prediction-market "band-aids" with actual rules
The CFTC issued two June rulemaking proposals to replace nine years of informal no-action letters governing prediction markets with formal rules on reporting and on vetting sports and gaming contracts for the public interest.