Judge Lets Stock Perpetual Futures Keep Trading but Says CFTC Likely Overstepped Its Authority

- The CFTC tried to pull a PoD seal on stock perps, but Judge Caproni just told them to read the manifest. Kalshi, Coinbase Derivatives, and Bitnomial keep trading while Wall Street’s Cboe and Citadel Securities scream that “no expiration” equals SEC jurisdiction, not CFTC. Classic turf war where regulators treat perpetuals like they’re made of glass. Meanwhile, crypto natives watch this closely because if perps are swaps today, Bitcoin perps might be next. Don’t let the meat wallet panic; this is just bureaucratic friction. The market stays open, leverage stays high, and the lawyers stay employed. Stay liquid, stay skeptical, and remember: aggressive passive income requires reading the fine print, not just the headline.