In the 1970s, the Commodity Futures Trading Commission began permitting financial futures based on benchmarks such as interest rates and foreign exchange rates

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The Commodity Futures Trading Commission (CFTC) asserts in its complaint against Utah that event contracts offered on registered exchanges qualify as financial swaps under the Commodity Exchange Act

Kalshi spokesperson Jacki McGavick stated that as a national derivatives exchange registered with the CFTC, Kalshi answers exclusively to federal law

CFTC Chair Michael Selig stated that Congress granted the agency sole responsibility and exclusive jurisdiction to oversee commodity derivatives and designated contract markets

The Ottoman conquest of Constantinople in 1453 was preceded by centuries of Byzantine currency debasement

Karl Menger argued in his 1871 book 'Principles of Economics' that good money must function as a store of value to become a medium of exchange

Historical destructions of major cultural libraries occurred at the Library of Alexandria and during the Mongol siege of Babylon

Under Chris Giancarlo's chairmanship, the Commodity Futures Trading Commission approved the first regulated Bitcoin futures derivative product

In the 1970s, the Federal Reserve capped the interest rates that American commercial banks could pay on United States dollar deposits

Traditional agricultural derivatives regulated by the Commodity Futures Trading Commission were structured around seasonal planting and harvest cycles

The 1970s Federal Reserve interest rate caps on domestic deposits led to the growth of offshore United States dollar deposits and the London Interbank Offered Rate market

The Commodity Futures Trading Commission requires retail perpetual futures trading to take place on a licensed Designated Contract Market

Dr. Richard Sandor and Leo Melamed invented financial futures contracts in Chicago

At least two-thirds of the global credit default swap marketplace was traded across GFI Group platforms during the 2008 financial crisis

Chris Giancarlo served as an executive at GFI Group during the 2008 financial crisis executing over-the-counter credit default swaps

Bloomberg first reported Payward's talks to bring Hyperliquid-linked perpetual futures to U.S. traders on August 31, 2026, and Payward confirmed its plans to use Bitnomial for deployment, clearing, and settlement on September 16, 2026

If approved by regulators, Payward's CFTC-registered futures commission merchant, NinjaTrader Clearing, would carry client accounts for Hyperliquid's HIP-3* markets

Payward's planned deployment of perpetual futures markets on Hyperliquid remains subject to regulatory approval, with no launch date or mainnet date set as of October 26, 2026

The standard HIP-3 framework, live since October 13, 2025, allows anyone staking 500,000 HYPE to deploy perpetual futures markets on Hyperliquid

Former senior SEC counsel Ashley Ebersole estimated in September 2026 that CFTC regulatory approval for Payward's HIP-3* onshore perps deployment could take up to a year and involve both the SEC and CFTC

Under Payward's proposed HIP-3* deployment structure, trading access would be restricted exclusively to allowlisted U.S. accounts