The CFTC approved a designated contract market to list Bitcoin perpetual futures, marking a regulatory milestone for crypto derivatives. Bitcoin perpetual futures allow leveraged exposure to
The U.S. Commodity Futures Trading Commission has taken another step toward regulated crypto derivatives, announcing approval for a designated contract market to list Bitcoin perpetual futures. The decision, disclosed alongside a no-action letter for Cboe Digital Exchange, marks the first CFTC-approved application for perpetual futures contracts linked to Bitcoin prices.
According to the CFTC, the approval follows its policy of reviewing perpetual futures applications individually. The agency also issued a time-limited no-action letter to Cboe Digital Exchange covering certain designated contract market procedures related to dormancy.
Perpetual futures, commonly called perps, allow traders to speculate on an asset’s price without owning it. Unlike traditional futures contracts, they do not expire and can remain open if sufficient collateral exists.
The products also permit leveraged trading, allowing users to control larger positions with borrowed funds. However, leverage can increase both gains and losses.
The approval arrived during a week of wider digital asset policy activity across several U.S. agencies. The Federal Reserve proposed a new payment account structure that could allow nonbank financial institutions to clear and settle payments through Federal Reserve Banks.
At the same time, the Federal Deposit Insurance Corporation approved a proposal establishing Bank Secrecy Act and sanctions compliance standards for permitted payment stablecoin issuers.
Meanwhile, the Securities and Exchange Commission has not yet released its expected tokenization innovation exemption, although Commissioner Hester Peirce discussed its planned limited scope.
The CFTC also remained active in prediction markets. The agency filed a lawsuit against Minnesota over a state law targeting event contracts.
Separately, the Ninth Circuit ruled that state enforcement actions involving CFTC-regulated prediction market platforms may continue in state court. The House Committee on Oversight and Government Reform also opened an investigation into possible insider trading connected to prediction markets.
According to information provided by Kalshi, the platform became the first company to offer CFTC-regulated perpetual futures on May 29, 2026.
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