OG.com seeks CFTC approval for single-stock perpetual futures

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OG.com seeks CFTC stock perpetuals

Highlights

OG.com filed with the CFTC to offer cash-settled single-stock perpetual futures, trading 24/5 with no expiration date.
OG.com, spun out from Crypto.com and valued at $5 billion, gained Robinhood as an equity partner soon after separation for its regulated derivatives exchange.
Recent filings from OG.com, Coinbase, and Kraken follow CFTC and SEC steps since May to allow perpetual contract products and limited onchain tokenized stock trading.

Filing outlines round-the-clock stock perps plan

According to Cointelegraph, in a Thursday filing with the Commodity Futures Trading Commission, OG.com proposed rule changes that would let it list cash-settled single-stock futures with no expiration date and trading hours of 24 hours a day, five days a week.

OG.com was recently spun out of crypto exchange Crypto.com as an independent prediction markets and derivatives platform valued at $5 billion. At the time of the separation, Chief Executive Kris Marszalek said the company planned to expand beyond prediction markets into futures and perpetual contracts.

Robinhood also took an equity stake in OG.com shortly after the spin-off as part of a multi-year agreement to use its CFTC-regulated derivatives exchange and clearinghouse for prediction markets. Unlike traditional futures, perpetual futures do not expire, allowing traders to keep positions open without rolling into new contracts.

Regulatory momentum builds across U.S. markets

OG.com's move adds to a broader wave of applications from crypto and prediction-market groups looking to bring perpetual futures tied to individual U.S. stocks into regulated markets. On Sept. 18, Coinbase, Kraken parent Payward through its Bitnomial exchange, and Kalshi also filed to offer similar products.

The filings are arriving as U.S. regulators continue advancing crypto-related market initiatives even after the CLARITY Act failed to move forward in the Senate on Sept. 15. Days after that vote, the Securities and Exchange Commission allowed limited onchain trading of tokenized U.S. stocks under its Innovation Exemption, while the CFTC broadened regulatory relief for software providers connecting users to regulated derivatives venues, including platforms offering perpetual contracts.

The CFTC had already begun preparing a framework for perpetual futures earlier this year. In May, the agency created a case-by-case review process for perpetual contracts and approved Kalshi's Bitcoin perpetual futures product, then in June granted temporary relief for certain registered exchanges to convert existing crypto futures into contracts without expiration dates.

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