The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) issued a joint request for public comment on potential updates to derivatives product definitions. According to NS3.AI, the request addresses definitions and exclusions related to swaps and security-based swaps, and also considers emerging products such as event contracts and perpetual futures.

The update effort comes as CME Group filed a lawsuit against the CFTC concerning the agency’s approval of Kalshi’s U.S. perpetual futures.