LEAD

Kalshi goes after the big traders on CME and Cboe’s home turf
Mark Weinraub – Crain’s Chicago Business
Online prediction market operator Kalshi made its name over the last five years catering to individual investors who wanted to make trades based on World Series winners, interest rate changes or election results.
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Global Funds Shun Yuan Options Trades on Decade-Low Volatility
Bloomberg
China’s relentless drive to keep the yuan stable is crippling activity in the offshore currency derivatives market, depriving foreign investors of trading opportunities and leaving them exposed should volatility return. Expectations for near-term dollar-offshore yuan price swings are hovering close to their lowest level in over a decade. That has shrunk monthly average offshore yuan option volumes in the first eight months of this year to about $58 billion, a sharp drop from $95 billion and $142 billion during the same eight-month period in 2025 and 2024, according to data compiled by Bloomberg.
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Binance Offers Access to Options Tied to US Stocks, ETFs
Muyao Shen – Bloomberg
Binance, the world’s largest crypto exchange, is offering customers access to options tied to more than 1,000 US stocks and exchange-traded funds through a partnership. The contracts — available only to users outside the US — are accessible via Binance’s Abu Dhabi entity Nest Trading Limited in a collaboration with Alpaca Securities LLC, a US-registered broker-dealer. The options are the latest product tied to traditional assets made available on Binance, from tokenized securities to perpetual futures.
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Binance Adds U.S. Stock Options to its Multi-Asset Platform
Binance – Cision PR Newswire
Binance today announced it will begin offering options on 1,000+ selected U.S. stocks and ETFs through Nest Trading Limited, its Abu Dhabi Global Market-regulated broker-dealer. Nest Trading Limited acts as introducing broker, routing orders to Alpaca Securities LLC (dba Alpaca Clearing), a U.S.-registered self-clearing broker-dealer, for execution, clearing, settlement, and custody. The launch builds on Binance’s existing U.S. equities offering, which includes 7,000+ stocks and ETFs through Nest Trading Limited’s partnership with Alpaca, and complements equity-linked perpetual futures listed on Binance’s Recognized Investment Exchange. In addition to its crypto offerings, users can access stocks, ETFs, bStocks (tokenized securities), equity-linked perpetuals, and now stock options from a single Binance account.
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Bybit Teases Industry-First Perp Options, Unlocking 24/7 US Equity Options Trading
Bybit – PR Newswire
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced the upcoming launch of Perp Options on September 17, 2026, the industry’s first options contracts built on TradFi perpetuals. The product will give traders round-the-clock access to US equity options directly from their existing USDT-funded Bybit accounts, enabling them to build and manage positions strategically, unbound by traditional market hours. Trading in Perp Options is set to go live on September 17, 2026, at 20:00 UTC, with SpaceX and Nvidia as the first available underlyings. Tesla, QQQ, SOXL, and Micron, and more, are next in line, with plans to expand asset lineup on a rolling basis.
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Donald Trump Jr.’s Firm Leads $1 Billion Funding Round for Polymarket
Lauren McCarthy – The New York Times
Donald Trump Jr.’s venture capital firm, 1789 Capital, is leading a new funding round in Polymarket that values the prediction market at $21 billion, a spokeswoman for 1789 Capital said on Monday. Polymarket plans to raise $1 billion, including around $300 million from 1789 Capital, the spokeswoman, Alexa Henning, said. The investment firm previously invested about $200 million in the prediction market, which is currently valued at about $15 billion.
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Young Kalshi users have traded an estimated $3.9B on sports and parlay-type contracts this year, exposing a loophole that lets them bet before age 21
Marco Quiroz-Gutierrez – Fortune
Kalshi users as young as 18 are now responsible for billions of dollars worth of trading activity on sports that critics say amounts to a loophole in gambling laws. A recent analysis by CNN showed so far this year users between the ages of 18 and 21 traded an estimated $5.4 billion on Kalshi, the largest prediction market in the U.S. Of that amount, $3.9 billion was in sports-related events. Sports gambling in most states is off limits for anyone under 21. And yet Kalshi allows anyone 18 years old and older to put money into it because it is regulated as a financial market under the jurisdiction of the Commodity Futures Trading Commission.
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Exchanges

MIAX Options Exchange And MIAX Sapphire Options Exchange September 1, 2026 Fee Changes
Press Release – Traders Magazine
Effective September 1, 2026, MIAX Options and MIAX Sapphire Options Exchanges will amend the following fees pending filings with the Securities and Exchange Commission:
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Farmer sentiment rises again in August as future expectations improve
CME Group
For the first time since June 2025, respondents in the August Purdue University/CME Group Ag Economy Barometer survey expect their operation to be better off financially rather than worse off a year from now. The improved outlook raised farmer sentiment from 126 in July to 135 in August. While the Index of Future Expectations increased 11 points, the Index of Current Conditions rose only 1 point. Optimism about export prospects over the next five years also improved this month, reaching 140 — the highest since December 2025. Higher input costs remained the biggest concern this month. The survey was conducted among 402 farmers across the nation from Aug. 10-14.
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SIX Exchanges Figures: August 2026
BME Bolsas y Mercados Espanoles
In August 2026, combined trading turnover for SIX Swiss Exchange and BME Exchange was up 19.5% in comparison to August 2025, reaching CHF 125.9 bn traded across the month. Turnover for the individual Swiss and Spanish markets was up 15.9% and 28.8% respectively, with CHF 87.3 bn and EUR 41.2 bn traded. Continuing momentum from July, ETFs remained the highest performing trading segment on SIX Swiss Exchange in terms of year-on-year (YOY) growth, with turnover up 72.4% in comparison to August 2025. This increase was also reflected on the listings side, with new ETF listings up 90.0% YOY to reach 211 listed on the Swiss market in 2026, adding to a total of 2,282 available to investors. August also saw Allianz Global Investors join as a new ETF issuer with four new ETFs, bringing the total number of ETF issuers on SIX Swiss Exchange to 37.
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Shanghai International Energy Exchange has released its Circular on Market Makers for Certain Futures and Options
SHFE
Shanghai International Energy Exchange has released its Circular on Market Makers for Certain Futures and Options as follows: In accordance with the Market-Making Management Rules of the Shanghai International Energy Exchange, Shanghai International Energy Exchange announces market makers for Bonded Copper futures as well as Crude Oil and Low Sulfur Fuel Oil options as follows:
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SGX Group clinches top derivatives and data accolades at FX Markets Asia Awards
SGX
SGX Group has been named “Best Asia FX Derivatives Exchange”, and SGX FX secured “Best FX Market Data and Analytics Provider for Asian Currencies” at the FX Markets Asia Awards 2026. The awards cap a year of record volumes, product innovation and market structure enhancements across SGX’s listed and OTC FX platforms. Currency volatility and global market uncertainty drove participants to SGX to manage their risk, generating record trading volumes and broader participation. Daily average volume (DAV) for SGX’s listed FX derivatives jumped 24% year-on-year to US$22.8 billion1, while open interest rose 10%. Growth was anchored by flagship USD/CNH and INR/USD contracts, which rank among the world’s top ten most traded FX futures.
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REGULATION

Former SEC, CFTC Officials Urge Lighter Touch to Bring Crypto Perps Trading Onshore
Eleanor Terrett – decrypt
While crypto market structure legislation sits in summer recess limbo, the SEC and CFTC are getting a head start on writing the rules for the $2.5 trillion industry. Both agencies are pressing ahead with several crypto-related initiatives, including a fresh look at derivatives and a rewrite of the SEC’s crypto custody rules.
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SEC chairman moves to give US states power over shareholder resolutions
Ross Kerber – Reuters
The U.S. Securities and Exchange Commission has taken a step toward eliminating its requirements for shareholder proposals at public companies and giving new powers ​to states, a shift that would diminish the influence of investor activists. In a regulatory ‌notice dated Friday, the SEC said it would consider changes to the rule known as 14a-8. It establishes requirements for shareholder proposals in public companies’ annual proxy statements including minimum ownership.
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CFTC Framework for Technology Service Vendors
Daniel J. Davis and Carl E. Kennedy – Reuters
An explanation of the Commodity Futures Trading Commission (CFTC) framework for oversight of technology service vendors (TSVs) and the implications of CFTC Letter No. 26-09, which enables certain TSVs, such as self-custodial wallet providers, to facilitate access to CFTC-regulated derivatives markets without registering as introducing brokers (IBs).
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Strategy

Suddenly Wall Street is getting a bit nervous. Here are two ways to prepare for turbulence.
Steve Goldstein – MarketWatch
Maybe the expression should be “sell in June and go away.” The S&P 500 has meandered through a dud over the past three months, rising just over 1%. As summer winds down, there’s a new air of nervousness emerging on Wall Street. Strategists at Citadel Securities and JPMorgan are both saying they have turned temporarily cautious, though neither is calling the bull market over.
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