Commodity Futures Trading Commission

The CFTC regulates United States derivatives markets — futures, options, and swaps. Its remit sits alongside the SEC's, with the dividing line drawn by whether an instrument is a security or a commodity derivative.

That boundary has become consequential for digital assets, where classification determines which agency has authority.

Most startups never encounter the CFTC. It becomes relevant for companies building derivatives, prediction markets, commodity trading platforms, or digital asset products.

For crypto founders in particular, whether the CFTC or SEC has jurisdiction over a given token or product is a live and unsettled question with real consequences.