MarketVoice
Surging volumes have prediction markets facing a legal reckoning in the US
Prediction markets, once a niche academic experiment, are colliding with US gambling laws, state regulators and a cautious Commodity Futures Trading Commission as volumes surge and courts weigh who has authority over bets on everything from elections to sports and world events.
READ MOREAnalysis: Geopolitics, prediction markets and tokenization seen as top three drivers of derivatives market change in 2026
Change is constant in the derivatives market, but the drivers of change are not. This year's research into market participant opinions revealed that the top three drivers are geopolitical conflict, prediction markets and tokenization. Just as telling, the regulatory agenda, which had been a top concern in the past, dropped to fifth place on this year's list. The findings are based on an assessment of industry sentiment conducted by Crisil Coalition Greenwich in partnership with FIA.
Retail-focused precious metals derivatives trading surges, outpacing institutional growth
February 27, 2026 CONTINUE READINGGlobal ETD trading fell in 2025 as India crackdown hits options volume
February 26, 2026 CONTINUE READINGViewpoint
12 January 2026
Viewpoint: Don’t let the January blues get you down
2025 was a year in which FIA members leaned in, worked together and delivered meaningful progress for global derivatives markets. We should take pride in how often our work translated into real-world outcomes.
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Analysis: Geopolitics, prediction markets and tokenization seen as top three drivers of derivatives market change in 2026
Change is constant in the derivatives market, but the drivers of change are not. This year's research into market participant opinions revealed that the top three drivers are geopolitical conflict, prediction markets and tokenization. Just as telling, the regulatory agenda, which had been a top concern in the past, dropped to fifth place on this year's list. The findings are based on an assessment of industry sentiment conducted by Crisil Coalition Greenwich in partnership with FIA. CONTINUE READING -
Retail-focused precious metals derivatives trading surges, outpacing institutional growth
Retail investors fuelled a sharp rise in trading activity across precious metals derivatives in 2025, while institutional benchmark futures contracts saw comparatively muted growth. CONTINUE READING -
Global ETD trading fell in 2025 as India crackdown hits options volume
Global trading in exchange-traded derivatives fell in 2025, largely due to a sharp pullback in equity options trading in India following regulators' moves to curb speculative retail activity. Even as global volumes fell, open interest – a measure of outstanding positions – told a different story, underscoring continued demand for derivatives as tools for hedging and price discovery. CONTINUE READING -
Viewpoint: FIA in Brussels – In-person meetings, outsized impact
Over the course of two-plus days, we met with policymakers at the European Commission, several EU Member States’ representations, key members of the European Parliament and their staff, and leaders at the European Securities and Markets Authority and European Central Bank. We reiterated the story of the global cleared derivatives industry, how we agree with the push to simplify the regulatory burden on our members and discussed centralised supervision. CONTINUE READING -
Viewpoint: Five mega trends for 2026
To help frame many of the discussions at this year's Asset Management Derivatives Conference, I shared five trends that matter to both the buyside and sellside. CONTINUE READING -
All roads lead to DLT: ECB advances Pontes and Appia
Europe’s push to enable settlement of DLT-based transactions in central bank money is moving from experimentation to implementation, with the European Central Bank launching a twin-track programme – Pontes and Appia – to bring tokenised settlement closer to reality. Speakers at FIA’s Brussels Forum earlier this month said the shift marks a significant step beyond recent exploratory trials, signalling growing confidence that distributed ledger technology can address long-standing inefficiencies in Europe’s collateral and settlement landscape. CONTINUE READING
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