WASHINGTON, D.C.— Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement in connection with the Commodity Futures Trading Commission (CFTC) approving Kalshi’s spot bitcoin perpetual futures contract: 

 “The CFTC continues to show that it will give the crypto industry and the prediction markets industry anything they want. Today, the CFTC approved Kalshi’s perpetual futures contract on spot bitcoin despite perpetual futures being one of the most dangerous crypto products for retail investors.  And it did so without establishing any enhanced investor protections. 

“Unlike most futures contracts, which have a set expiration date, perpetual…