The CFTC sent two prediction-market rules to the White House for review, including one that would exclude casino-style gambling products from the swap definition and another that would explicitly include event contracts. The measures could shape ongoing disputes over sports-related contracts and whether CFTC oversight preempts state gaming laws.

Trading volumes on prediction market platforms Kalshi and Polymarket have raised concerns about potential inflation or wash trading. Polymarket has seen unusual activity on low-odds contracts, while Kalshi has experienced abnormal trading patterns on ether perpetual futures. Both companies deny any manipulative trading, attributing the patterns to active traders and market makers. The Commodity Futures Trading Commission is reportedly examining the trades on Kalshi's ether contract.

Trading in single-stock futures on the National Stock Exchange of India fell to a 34-month low in September after the introduction of a closing auction system that has disrupted arbitrage strategies. Turnover in stock futures dropped to 21 trillion rupees ($219 billion), while index futures turnover rose 14%. The Securities and Exchange Board of India is addressing the issue by providing arbitrage funds more flexibility and seeking public feedback on proposed changes.

Chinese fuel exporters, including Sinopec Group and Sinochem, have canceled some October shipments of gasoline and diesel to prioritize domestic supply amid global energy market volatility. The cancellations have tightened the Asian fuel market, widening the prompt spread for gasoline and diesel. This move comes as China faces expensive crude supplies and a significant drop in Iranian flows, leading to a sharp decline in domestic fuel inventories.

More than half of Asian firms active in the US Treasury market are lagging in preparing for the Securities and Exchange Commission's clearing mandate, hoping for exemptions to its extraterritorial reach. A BNY Mellon survey finds only 49% of Asia-Pacific firms have started preparations, compared with 80% globally. The rule, effective June 2027, requires all banks participating in the US Treasury market to join a central counterparty, potentially affecting non-US branches and clients.

Jane Street has surpassed JPMorgan Chase in trading revenue to become Wall Street's top trading firm, yet remains enigmatic regarding its leadership. The firm operates without traditional titles, including a CEO, which Jane Street says fosters collaboration and accountability.

Major US banks are preparing for a slower third quarter after a robust second quarter driven by a boom in stock market activity, mergers and trading. JPMorgan Chase, Citigroup and Bank of America have noted that while the third quarter will be strong compared with last year, it will not match the second quarter's performance.

The Federal Reserve has finalized revisions to its stress test of major banks, including a requirement that the Fed collect public input on the scenarios and material changes to the models used in the annual test. The final rule also mandates that capital buffer requirements be calculated by averaging the results from the two most recent stress tests "for firms subject to the stress test in both years." Fed Governor Michael Barr cast the sole vote against the final rule, which he said will "significantly weaken the stress test and, consequently, bank resilience."

EU regulators are questioning Binance for continuing to serve customers after unlicensed crypto firms were told to wind down operations from July 1 under MiCA, with the exchange relying on the narrowly defined "reverse solicitation" exemption. ESMA and regulators in France, Germany and Greece are examining whether that exemption is being used legitimately, with potential fines or other enforcement if Binance is found non-compliant.

President Donald Trump said he is still considering a diesel export ban but appeared less supportive, warning it could lower diesel prices while raising gasoline costs. He also pointed to recovering Strait of Hormuz oil flows and expectations for additional diesel supply as reasons prices could ease without a ban.