# CFTC Greenlights Perpetual Futures on U.S. Stocks

*Author: William M. Peaster*
*Published: Nov 3, 2026*
*Source: https://www.bankless.com/read/news/cftc-greenlights-perpetual-futures-on-u-s-stocks*

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CFTC Chair Mike Selig [announced](https://www.cftc.gov/PressRoom/SpeechesTestimony/seligstatement110326) this morning that perpetual futures on individual U.S. equities can begin trading on CFTC-registered exchanges for the first time. The products are classified as security futures, which puts them under both CFTC and SEC oversight. 

> [ — (@)
> ](https://twitter.com/ChairmanSelig/status/2117619147370536988)

# **What's the Scoop?**

- **The ruling:** The contracts were "deemed approved" under Commission Regulation 40.3, meaning the review window closed without objection. Only venues that are both CFTC-designated contract markets and SEC notice-registered for security futures can list them. The statement names no exchanges and no tickers. 

- **Who's in line:** Kalshi, Coinbase Derivatives, and Bitnomial (Kraken's parent, Payward) all filed perp rules on Sept. 18th. Kalshi's filing covers up to 58 contracts on large caps including Apple, Nvidia, and Tesla; Bitnomial's starter list is ten names. Coinbase Vice Chairman Ryan VanGrack [said](https://x.com/RVanGrack/status/2117656415976181789) the exchange is "getting equity perps ready for U.S. customers." No venue has posted a launch date. 

- **Not the offshore product:** The filed contracts run Sunday evening to Friday afternoon ET, not 24/7, with margin floors around 15%, or roughly 6.5x leverage. Offshore venues go much higher, and nothing here opens Hyperliquid's existing stock perps to Americans. Even still, Hyperliquid Strategies CEO David Schamis [called this new classification](https://x.com/dschamis/status/2117650704751849589) "a real step toward bringing Hyperliquid onshore." 

- **The pushback:** [SIFMA asked](https://www.sifma.org/news/press-releases/sifma-urges-broad-regulatory-review-of-equity-perpetuals-before-launch) regulators yesterday to pause and take public comment first, Better Markets called the products a gambling tool in disguise, and CME is still suing the CFTC on the theory that perps are swaps, not futures.
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