In the end, it's under ICANN's purview and in this case, also allowed by a decision made by the Trump administration in 2018. Verisign has a Cooperative Agreeme

In the end, it's under ICANN's purview and in this case, also allowed by a decision made by the Trump administration in 2018. Verisign has a Cooperative Agreement with the US Government. The gist: "The amendment repeals Obama-era price controls and provides Verisign the pricing flexibility to change its .com Registry Agreement with ICANN to increase wholesale .com prices. Specifically, the flexibility permits Verisign to pursue with ICANN an up to 7 percent increase in the prices for .com domain names, in each of the last four years of the six-year term of the .com Registry Agreement. The changes also affirm that Verisign may not vertically integrate or operate as a registrar in the .com top level domain."