Approval With Guardrails

The most likely path is that the CFTC preserves its approval while adding investor-protection conditions responding to Better Markets’ warning. The SEC’s support for CFTC authority makes a full reversal less likely in the near term, but the political pressure around 6x leverage forces tighter disclosures and controls.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.