CFTC Approves Perpetual Futures on Individual Stocks, Drawing Lawsuit From Cboe-Backed Group
The Commodity Futures Trading Commission has cleared U.S. exchanges to offer perpetual futures contracts on individual stocks, according to The Block and CoinDesk. Chairman Michael Selig said in a statement that “equity perpetual futures” can now trade on CFTC-registered exchanges, according to Decrypt, extending a crypto-native derivatives structure — contracts with no expiration date, common on crypto exchanges — to traditional equities.
CoinDesk reported the approval effectively imports the crypto trading model to Wall Street, allowing traders to take leveraged, expiration-free positions on single stocks through CFTC-regulated venues rather than traditional security futures products.
The approval has already drawn legal pushback. According to The Defiant, a group backed by Cboe filed a lawsuit against the CFTC, naming Coinbase, Kalshi and Bitnomial in the complaint. The suit seeks emergency relief to stop the three exchanges' equity perpetual futures contracts from being listed, arguing they should instead be treated and regulated as security futures, The Defiant reported.
The dispute sets up a fight over which regulatory framework — the CFTC’s commodities rules or the security-futures regime overseen jointly with the SEC — governs a product that blends stock exposure with a derivatives structure popularized by crypto exchanges.
Sources: CFTC Press Releases, CoinDesk, The Block, The Defiant, Decrypt
This article is for information only and is not financial advice.
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