Kalshi’s crypto perpetuals spark debate over whether they’re futures or swaps
Latest developments: Kalshi’s launch of CFTC-regulated crypto perpetuals has reignited a long-running debate over financial market definitions. John Lothian and Kalshi’s Udesh Jha joined The Policy Protocol to debate this topic. John Lothian, publisher of John Lothian News, argued that perpetual contracts resemble swaps because they involve recurring bilateral cash-flow payments through funding-rate mechanisms. Udesh...
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