I never could understand how derivatives are not more tightly regulated.

The stock market brings a benefit to society in a way that companies, who are producing and researching good and services, can get investment to expand and produce more and better.

Derivatives, the way I understand them (might be wrong), do not seem to support this as they are nothing more than artificial instruments (bets) over those stocks and indexes. Part of if is fictitious (value that isn't there) but part of it is real money that could be invested elsewhere to help companies and society.

Of course they have their fair use, like hedge for risk, but my bet is the biggest usage is for speculation.