OG.com seeks CFTC approval for single-stock perpetual futures
OG.com seeks CFTC approval to list cash-settled single-stock perpetual futures that never expire and can trade 24 hours a day, five days a week. The Crypto.com spin-out joins Coinbase, Kalshi and Kraken parent Payward in seeking to bring crypto-style perps to individual US stocks under federal commodities oversight.
In a Thursday filing with the Commodity Futures Trading Commission, OG.com Markets proposed new rules to list cash-settled single-stock futures with no expiration date. The contracts would be tradable 24 hours a day, five days a week. The filing places the platform among a growing group of crypto and prediction-market operators seeking to bring perpetual futures to US equities. Follow related developments in our Fintech & Crypto Alerts hub.
Key Takeaways
- OG.com filed with the CFTC for cash-settled, non-expiring single-stock perpetual futures.
- The Crypto.com spin-out is an independent prediction markets and derivatives platform valued at $5 billion.
- Coinbase, Kalshi and Payward (via Bitnomial) filed similar stock-perp proposals on Sept. 18.
- Unlike traditional futures, perpetual contracts have no expiry, so traders need not roll positions.
- The CFTC has already approved Kalshi Bitcoin perps and set a case-by-case review path for such products.
What did OG.com ask the CFTC to approve?
According to reporting on the Thursday filing, OG.com Markets wants clearance to offer perpetual futures tied to individual stocks. The proposed contracts would be cash-settled, never expire, and trade around the clock on weekdays.
OG.com was recently spun out of Crypto.com as a standalone prediction markets and derivatives venue. At the spin-off, CEO Kris Marszalek said the firm planned to expand beyond prediction markets into futures and perpetual contracts. Shortly afterward, Robinhood took an equity stake under a multi-year deal to use OG.com’s CFTC-regulated derivatives exchange and clearinghouse for prediction markets.
Why does it matter that OG.com seeks CFTC approval?
Perpetual futures, or “perps,” are among the digital-asset market’s most popular derivatives products. BitMEX pioneered the product in 2016. Applied to single US stocks, they would let traders maintain exposure without periodically rolling into new dated contracts.
OG.com is not alone. On Sept. 18, Coinbase, Kraken parent Payward through its Bitnomial exchange, and prediction market Kalshi all filed to offer perpetual futures on individual US stocks. The wave of applications followed a busy stretch for US market watchdogs after the CLARITY Act failed to advance in the Senate on Sept. 15.
Days after that vote, the SEC cleared limited onchain trading of tokenized US stocks under its Innovation Exemption. The CFTC also expanded regulatory relief for software providers that connect users to regulated derivatives platforms, including venues that offer perpetual contracts.
How are US regulators preparing for stock perpetual futures?
The CFTC began laying groundwork months earlier. In May, the agency set a case-by-case review process for perpetual contracts and approved Kalshi’s Bitcoin perpetual futures product. In June, it issued temporary relief allowing certain registered exchanges to convert existing crypto futures into contracts without expiration dates.
Whether OG.com’s single-stock proposal wins approval remains for the commission to decide. The filing underscores a broader industry push to bring perpetual futures—long popular in crypto—onto US equity markets under CFTC rules.