Crypto Platforms Chase CFTC Approval for Stock Perpetual Futures
OG.com and other crypto exchanges are seeking regulatory approval to launch perpetual futures contracts on individual US stocks, marking a major expansion of crypto-native derivatives into traditional equity markets.
The Filing Wave
OG.com, the derivatives platform recently separated from Crypto.com, has submitted a formal proposal to the Commodity Futures Trading Commission requesting authorization to establish cash-settled perpetual futures tied to individual equities. These contracts would operate continuously throughout trading sessions, five days a week, without an expiration date.
The initiative builds on OG.com’s evolution since its spin-off from Crypto.com. Valued at $5 billion as an independent platform, OG.com operates in the prediction markets and derivatives space. Leadership previously indicated plans to expand offerings beyond prediction markets into futures and perpetual contracts. The platform has attracted substantial backing, including an equity investment from Robinhood as part of a multi-year partnership, positioning OG.com’s CFTC-regulated derivatives exchange and clearinghouse for the brokerage’s prediction market operations.
OG.com is not alone in this regulatory push. Coinbase, Payward through its Bitnomial exchange, and prediction market platform Kalshi all submitted comparable applications in mid-September. This coordinated wave of filings demonstrates major crypto platforms’ determination to bring a derivatives product originating in digital assets to US equity markets. Perpetual futures emerged from crypto innovation, with BitMEX establishing the product category a decade earlier as a means for traders to maintain market exposure without repeatedly managing contract rollovers.
A Shifting Regulatory Landscape
The timing of these filings coincides with significant developments in cryptocurrency regulation. The CLARITY Act, legislation that would have provided comprehensive regulatory guidance for digital assets, stalled in the Senate in mid-September. Despite this legislative setback, regulators have accelerated certain crypto-friendly policy initiatives. The Securities and Exchange Commission approved limited blockchain-based trading of tokenized US equities under its Innovation Exemption framework. The Commodity Futures Trading Commission simultaneously broadened regulatory accommodations for software providers connecting users to supervised derivatives platforms, including those offering perpetual contracts.
The CFTC has systematically laid groundwork for perpetual futures regulation. The agency established a case-by-case evaluation process for perpetual contracts earlier in 2026, subsequently approving Kalshi’s Bitcoin perpetual futures product. In June, the commission issued temporary regulatory relief enabling certain registered exchanges to convert existing crypto futures contracts into perpetual instruments without expiration dates.
Why It Matters
The expansion of perpetual futures into equity markets demonstrates how cryptocurrency-originated innovations have gained mainstream regulatory acceptance. Regulatory progress on derivatives infrastructure indicates that authorities are building frameworks accommodating technological advancement while maintaining market oversight. This development could enhance liquidity, expand trading opportunities, and strengthen crypto-native platforms’ competitive positioning in traditional finance.
Regulatory approval of perpetual futures on US stocks could accelerate institutional adoption of crypto platforms and strengthen their position in global derivatives markets.
Source: CFTC, via Cointelegraph. Not financial advice.