The league filed at the Supreme Court on Thursday, backing New Jersey's petition against Kalshi. It argues sports event contracts are not Dodd-Frank "swaps", so state gambling law can reach them. Kalshi's response is not due until 9 November.
Cboe's new clearing house wants its members' customer margin on binary options treated the way the broker-dealer protection rule treats margin at the OCC. The rule names the OCC because, when it was written, there was no other options clearing house. Comments are due on 20 October.
Faster listing standards produced a wave of single-asset crypto funds. Most of them will not gather enough money to justify staying open.
Far more notional value now trades in crypto futures and options than in the coins themselves, which changes what moves the price.
The trading firms that dominate equities and futures now anchor crypto liquidity, bringing tighter spreads and familiar market dynamics with them.
Adaptive execution and model-driven strategies are changing intraday dynamics in ways researchers are only beginning to measure.
Execution-quality reporting has turned a wholesale plumbing debate into a competition brokers must win in public.
Regulated event contracts are pitching themselves to corporates and funds as insurance against outcomes traditional derivatives ignore.
Portfolio trading and all-to-all networks have done for credit what a decade of predictions kept promising.