industry
What the CFTC’s 2026 prop language actually changes
Isabel Hart · 2026-09-08
Simulated evaluation shops are not FCMs. The language still matters for how US firms describe ‘funding’.
US futures props remain simulated evaluation products until a trader is placed with an FCM. The 2026 staff language is about advertising: ‘funded’, ‘live’ and ‘payout’ need to map to the actual legal wrapper. We already flag live-vs-sim on every firm file. Nothing in the text bans the model.