CFTC greenlights first U.S. Bitcoin perpetual futures
6.6 Regulation CFTC approved the first U.S. Bitcoin perpetual futures, allowing KalshiEX to list BTCPERP. Coinbase can also offer Deribit perpetuals to U.S. users, expanding access to global crypto derivatives.
The Commodity Futures Trading Commission (CFTC) has approved the first Bitcoin perpetual futures contract on a regulated U.S. exchange, allowing KalshiEX to list its BTCPERP product. This is a major milestone for the U.S. crypto derivatives market, as perpetual futures—contracts without an expiry date—were previously available mainly on offshore platforms like Binance, Bybit, and OKX. Announced on May 29, 2026, the CFTC's decision establishes a clear regulatory path for U.S. firms to offer these popular instruments, enabling traders to speculate on Bitcoin’s price indefinitely. The approval was granted under Section 5c(c)(4) of the Commodity Exchange Act and Regulation 40.3. Additionally, the CFTC has permitted Coinbase Financial Markets to provide eligible U.S. customers access to certain Deribit perpetual futures through a foreign affiliate structure. This move expands U.S. access to global crypto derivatives liquidity. The CFTC emphasized the importance of leverage, volatility, and systemic risk limits, urging careful review of perpetual contracts for various assets.
