CFTC backs crypto perpetual contracts, issues advisory on 24/7 trading
The CFTC approved Kalshi’s Bitcoin perpetual futures contract, marking a notable shift toward crypto derivatives and products that can trade continuously. The agency said the approval was based on Kalshi’s showing that the contract and underlying market comply with the Commodity Exchange Act and CFTC rules. In a separate notice, the CFTC said crypto derivatives may be well-suited to 24/7 trading, clearing, and settlement because of their digital infrastructure and global reach, unlike some traditional markets such as agriculture. Coinbase also received a CFTC no-action position for similar perpetual futures products, which Coinbase called a major industry milestone. The moves suggest a more permissive stance toward crypto perpetual futures in the US.
