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Perpetual futures or "perps," a unique type of financial derivative pioneered by the crypto industry that allows traders to enter highly leveraged positions without expiration, could be coming to America.
What's the Scoop?
- CFTC Nod: During a public appearance with SEC Chair Paul Atkins the Milken Institute today, CFTC Chair Mike Selig confirmed that his agency is developing policies to allow crypto-style perpetual future products. According to Selig, the CFTC is, "working towards getting true perpetual futures, not long dated contracts, here in the U.S. within the next month or so."
- Request for Comment: Last April, the CFTC's Divisions of Market Oversight, Clearing and Risk, and Market Participants issued a public request for comment seeking information on the potential uses, benefits, and risks of perpetual contracts in derivatives markets.
- Attempted Implementations: In July,
Coinbase launched a pseudo-perpetual future for its American users, which uses long-dated futures contracts to eliminate the need to roll positions on a monthly basis. Last week, 
Kraken announced its intention to become the first exchange to list perpetual futures on U.S. equities. - Lobby Support: The
Hyperliquid Policy Center – established just two weeks ago with a 1M HYPE token grant – is working with lawmakers and regulators to establish clear rules for perpetual derivatives in decentralized markets.
CFTC @ChairmanSelig laid out an exciting roadmap for the Commission's top priorities at @MilkenInstitute's Future of Finance 2026 today:
— Hyperliquid Policy Center (@HyperliquidPC) March 3, 2026
"I view Project Crypto as a historic initiative between the agencies to upgrade and modernize our rules and regulations and future-proof them… pic.twitter.com/zFMdihgmhE
