Mike Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), has clarified four common misconceptions about perpetual futures contracts. In a recent article, Selig addressed the belief that perpetual contracts require a fixed expiration date, explaining that neither the Commodity Exchange Act nor CFTC regulations mandate such a requirement. He emphasized that case law and committee interpretations do not necessitate a fixed expiration date. Selig also tackled the misconception regarding high leverage, noting that extreme leverage is typical of offshore trading and not inherent to perpetual contracts. He assured that CFTC-regulated perpetual contracts adhere to the same leverage limits as other futures contracts. Additionally, Selig refuted claims that the CFTC bypassed public input, highlighting that a draft on perpetual contracts was released for public comment in April 2025, garnering over 100 responses. Lastly, Selig addressed concerns about funding rates, clarifying that these mechanisms do not impose excessive fees or encourage unethical behavior. Instead, they help maintain the contract's alignment with the underlying spot market, ensuring fair trading conditions.