CFTC Approves Single-Stock Perpetual Contracts, Currently Only Four Exchanges—Kalshi, Coinbase, Kraken, and Crypto.com—Have Submitted Applications

Odaily reports that Bankless founder David Hoffman posted on X platform stating that the CFTC has approved perpetual contracts tied to individual stocks, expected to launch on the 4 exchanges that previously submitted related applications. The four exchanges are KalshiEX LLC, Coinbase Derivatives, Bitnomial (Kraken), and Nadex/OG.com (Crypto.com).

All four exchanges meet the following conditions:

1. Already registered with the CFTC as exchanges;

2. Possess Designated Contract Market (DCM) status, with trades cleared through registered Derivatives Clearing Organizations (DCOs);

3. Simultaneously registered with the U.S. Securities and Exchange Commission (SEC);

4. All previously submitted listing approval applications for stock perpetual contracts.

Hoffman also stated that Lighter has confirmed it will submit an application to the CFTC this month, and it is likely to become the fifth exchange on this list, as well as the only decentralized contract exchange.

Previous reports indicated that the U.S. Commodity Futures Trading Commission (CFTC) has approved perpetual contracts tied to U.S. individual stocks, allowing such products to be listed and traded on regulated U.S. exchanges for the first time. This means U.S. investors will be able to trade single-stock perpetual contracts through regulated markets, further expanding the intersection between traditional equities and crypto derivatives markets.