The Commodity Futures Trading Commission has authorized U.S. trading of perpetual futures tied to individual stocks on registered exchanges for the first time. These leveraged derivatives have no expiration date, although traders must meet margin and funding requirements. Chairman Michael Selig framed the decision as part of the effort to move perpetual products into the regulated U.S. market, following the agency’s earlier approval of Kalshi’s Bitcoin perpetual futures. The stock contracts fall under joint oversight by the CFTC and the Securities and Exchange Commission under a memorandum of understanding signed in March.
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