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Besides local operators, a natural set of observables in Lorentzian CFT are given by light-ray operators, which are defined for continuous values of spin and interpolate the between the local operators, thus forming Regge trajectories. I will discuss the general structure of the spectrum of local and light-ray operators in CFT using the Wilson-Fisher fixed-point as an example. This structure leads to a puzzle: while the number of local operators increases with spin, the number of light-ray operators should stay the same, since their data is analytic in spin. This naively would require infinitely many vanishing conditions for OPE coefficients along the Regge trajectories. In recent work we resolve this puzzle by explaining how the infinitely many conditions follow from a single condition related to the natural normalisation of the light-ray operators.