CFTC to Authorize Leveraged Spot Crypto Trading on US Exchanges Starting December 2025

The US Commodity Futures Trading Commission will authorize leveraged spot cryptocurrency trading on regulated domestic exchanges beginning December 2025. Acting Chair Caroline Pham disclosed that the agency is finalizing discussions with CME Group, Cboe, ICE Futures, Coinbase Derivatives, Kalshi, and Polymarket to establish margin and financing products under existing commodities regulations.