Cadwalader partners Peter Malyshev, Mercedes Tunstall and Daniel Meade authored a recent Bloomberg Law article examining how the mainstreaming of commodity trading by retail investors is pushing regulators and Congress to modernize oversight.

They note that while Congress is taking steps to regulate stablecoins, broader updates to the Commodity Exchange Act may be needed as the definition of “commodity” continues to expand—now including digital assets, event outcomes and more.

The article also highlights the increasing role of non-professional traders and the push for new market structures, including self-liquidating accounts and 24/7 trading. As tokenized assets proliferate and decentralized platforms gain traction, the CFTC and SEC will likely face mounting calls for clarity and coordination.

Read the full article here (subscription required).