On November 10, 2026, Coinbase, Kalshi, and four other companies filed a brief supporting the CFTC in a lawsuit regarding the legality of US exchanges listing perpetual futures tied to individual stocks. The group argues that these stock perpetual futures should be classified under existing US futures laws, despite a federal judge's recent indication that the CFTC may have exceeded its authority in this matter. The case could significantly impact retail trading of contracts that track individual stocks without expiration dates.