法官允许股票永续期货继续交易，但表示CFTC可能过度行使权力

A federal judge has ruled against halting the trading of stock perpetual futures on cryptocurrency derivatives platforms, including Kalshi and Coinbase Derivatives. The court found that the Commodity Futures Trading Commission (CFTC) likely overstepped its regulatory authority in its attempt to ban these instruments. This decision allows these perpetual futures contracts, which allow speculation on the future price of stocks, to continue trading for the time being. However, the ruling suggests that the CFTC's approach may have been procedurally flawed, rather than a definitive endorsement of the products themselves. The case highlights ongoing jurisdictional and regulatory debates surrounding novel financial products offered by crypto exchanges. Further legal or regulatory action may still be forthcoming.