CFTC Approves Bitcoin Perpetual Futures Amid $3 Billion Volume

AI Summary

The Commodity Futures Trading Commission (CFTC) chair Michael Selig defended the agency's approval of perpetual futures in the U.S. during a recent CNBC appearance. This approval allows the prediction market platform Kalshi to offer bitcoin perpetual futures, marking the asset class's first entry into the U.S. market. Kalshi reported over $3 billion in notional volume of these contracts in just over a week during beta testing. Selig emphasized that the contracts will be well-regulated, countering criticisms about the risks and leverage associated with these products.