What Are the Primary Regulatory Bodies Overseeing Options Trading and Crypto Derivatives in the US?

The primary regulator for traditional options trading and futures is the Commodity Futures Trading Commission (CFTC). The Securities and Exchange Commission (SEC) oversees options on securities and the underlying securities markets.

For crypto derivatives, the CFTC has taken the lead, classifying many as commodities. The SEC is involved when a crypto asset or derivative is deemed a security.

Both agencies enforce rules against market manipulation, including front-running.