Coinbase urges CFTC, SEC to clarify oversight of perpetual futures, prediction markets

Coinbase (COIN) submitted a comment letter to the U.S. CFTC and SEC on the definition of perpetual futures products and the related regulatory framework after the two agencies requested public input. Faryar Shirzad, Coinbase’s chief policy officer, said on X the recommendations include establishing a framework to promote consumer choice, market competition, and innovation; classifying equity-based perpetual futures products as security futures; and allowing exchanges regulated by either the CFTC or SEC to list equity-related prediction products. Shirzad added Coinbase currently offers perpetual futures and prediction market products but faces conflicting rules amid a jurisdictional dispute between the CFTC and SEC.