Cc9f267dcClaimOn the launch day of PaperTrade, a trader executed $10 million to $20 million market orders on Hyperliquid to move Ethereum perpetual pricesAgreeDisagree
Cc9f267dcClaimHyperliquid operates an open order book for cryptocurrency perpetual futuresAgreeDisagree
Cc9f267dcClaimPaperTrade allows traders to open trading positions with up to 1000x leverageAgreeDisagree
Cc9f267dcClaimThe Commodity Futures Trading Commission approved Kalshi's Bitcoin BTCPERP contract on May 29, 2026, marking the first approval of perpetual futures on a regulated U.S. exchangeAgreeDisagree
Cc9f267dcClaimPerpetual futures rely on periodic funding payments between long and short traders to keep contract prices aligned with spot market prices, alongside margin requirements that trigger automatic liquidation if thresholds are breachedAgreeDisagree
Cc9f267dcClaimThe Commodity Futures Trading Commission cleared perpetual futures contracts earlier in 2026 for both Coinbase and Kalshi, allowing Webull to plug into Kalshi's approved venue without seeking its own regulatory approvalAgreeDisagree
Cc9f267dcClaimWebull announced on October 20, 2026, that it will launch Bitcoin and selected crypto perpetual futures to eligible U.S. customers in November 2026AgreeDisagree
Cc9f267dcClaimOn September 25, 2026, the U.S. Court of Appeals for the Sixth Circuit ruled in KalshiEx LLC v. Schuler that sports event contracts are not swaps under federal law and that the Commodity Exchange Act does not preempt Ohio sports gaming lawsAgreeDisagree
Cc9f267dcClaimOn October 9, 2026, the CFTC issued an interim final rule excluding casino-style gambling from the federal definition of swap while publishing a proposed rule explicitly incorporating event contractsAgreeDisagree
Cc9f267dcClaimCommodity Futures Trading Commission staff permitted Coinbase to route U.S. clients to perpetual futures listed on Coinbase's offshore affiliate DeribitAgreeDisagree
Cc9f267dcClaimWebull plans to make crypto perpetual futures available to its broader base of over 6 million clients and expand its product menu beyond cryptocurrency subject to regulatory reviewAgreeDisagree
Cc9f267dcClaimPolymarket US argues in its complaint that the CFTC's October 9, 2026 regulatory actions—an interim final rule and a proposed rule—altered the legal landscape established by the Sixth Circuit's September 25 ruling against KalshiAgreeDisagree
Cc9f267dcClaimPerpetual futures differ from traditional futures because they have no expiry date, allowing traders to hold positions indefinitely without rolling over contractsAgreeDisagree
Cc9f267dcClaimGlobal perpetual futures volume topped $90 trillion in 2025, according to statements by Webull US CEO Anthony DenierAgreeDisagree
Cc9f267dcClaimPolymarket US asserts that the Commodity Exchange Act grants the CFTC exclusive regulatory jurisdiction over event contracts listed on federally designated exchangesAgreeDisagree
Cc9f267dcClaimCME filed a lawsuit against the CFTC on June 18, 2026, arguing that perpetual contracts without expiry dates must legally be classified as swaps rather than futuresAgreeDisagree
Cc9f267dcClaimThe Commodity Futures Trading Commission responded in court on October 16, 2026, asking to reject CME's lawsuit filed on June 18, on the grounds that CME failed to demonstrate imminent competitive harmAgreeDisagree
Cc9f267dcClaimCoinGecko estimated global centralized crypto perpetual trading volume at $85.3 trillion in 2025, while perpetual open interest grew 40.6% to over $100 billion in Q3 2026AgreeDisagree
Cc9f267dcClaimOndo Finance launched perpetual futures and spot trading products for its tokenized equitiesAgreeDisagree