The article explores the history and regulations of commodity derivatives markets. It shows that derivatives have been used for a long time to trade goods across different places. Before futures markets were established, commodity prices were more unstable. Deregulation policies in the US, EU, and other regions led to a surge in liquidity in derivatives markets. This was fueled by investors' growing interest in new types of investments. In the 2000s, many new products were introduced, making the market less transparent and more uncertain. To better understand derivatives markets, we need better data and a strong legal and financial system to ensure fair regulations and prevent market manipulation.