Policy
Judge Lets Kalshi Stock Perps Trade at 4.9x as Bitcoin (BTC) Perp Model Faces Test
COINOTAG·November 4, 2026·1 min read
A federal judge allowed stock perps to keep trading on Kalshi while ruling the CFTC likely overstepped its authority. The swap decision also tests Bitcoin (BTC) perpetuals, which face similar regulatory scrutiny. Kalshi's stock perps continue operating at 4.9x leverage amid the legal challenge.
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