Why a Single Word Will Decide Who Can Trade Perps in the U.S

The CME is suing the CFTC over how perpetual futures contracts should be defined: as a swap or a future? Jake Chervinsky of Hyperliquid Policy Center, Cathy Yoon of Temporal, and Tiffany J. Smith of WilmerHale lay out why the answer decides who in the US ever gets to trade one. Host: Laura Shin - Fo