Futures markets are platforms where participants can buy and sell contracts to purchase or sell assets at a predetermined price on a specific future date. These assets can include commodities like oil and wheat, as well as financial instruments like currencies and stock indices. The primary purpose of futures markets is to hedge against price fluctuations or to speculate on future price movements. In a futures contract, the buyer agrees to purchase the asset, while the seller agrees to deliver it at the agreed-upon price. This arrangement helps both parties manage risk. Futures markets are regulated to ensure transparency and fairness, allowing traders to make informed decisions.