OG.com Markets, a prominent prediction markets and derivatives platform, is seeking US regulatory approval to introduce perpetual futures contracts tied to individual equities. The move marks another major push by trading platforms to bridge the gap between traditional equity markets and the high-octane derivatives products that first popularized the digital asset sector.
In a formal filing submitted on Thursday to the Commodity Futures Trading Commission (CFTC), OG.com outlined proposed new rules that would enable the platform to list cash-settled, single-stock futures. Unlike standard derivative instruments, these proposed contracts would never expire and would be designed to trade around the clock, operating 24 hours a day, five days a week.
The regulatory submission follows OG.com’s recent corporate separation from crypto exchange Crypto.com. Spun out as an independent entity with a valuation of $5 billion, OG.com was established to function as a dedicated prediction markets and derivatives hub. At the time of the spin-off, Crypto.com CEO Kris Marszalek emphasized that the newly independent platform intended to aggressively expand its service offerings beyond prediction markets into traditional and alternative futures and perpetual contracts.
The corporate realignment also drew traditional financial technology interest. Shortly after the spin-off concluded, retail brokerage giant Robinhood acquired an equity stake in OG.com. The investment formed part of a multi-year commercial agreement that sees Robinhood utilize OG.com’s CFTC-regulated derivatives exchange and clearinghouse infrastructure to support its own prediction market initiatives.
Perpetual futures, frequently referred to in trading circles simply as "perps," represent a fundamental departure from traditional futures contracts. By eliminating a definitive expiration date, perps allow traders to maintain long or short market exposure indefinitely without the operational friction or cost of periodically rolling expiring contracts over into new delivery months. This unique structural flexibility helped turn perpetual swaps into a multi-billion-dollar trading vehicle after they were originally pioneered within the digital asset ecosystem by BitMEX in 2016.
The Push into US Equities Expands
The race to introduce perpetual futures to the US stock market is rapidly intensifying. Crypto-native trading platforms, derivatives houses, and prediction markets are increasingly setting their sights on traditional equities, with OG.com now joining a fast-growing roster of financial technology firms petitioning US regulators for permission to list the contracts.
This competitive rush gained significant momentum on September 18, when a wave of major market players submitted parallel filings. Coinbase, Kraken parent Payward through its specialized Bitnomial exchange, and prediction market platform Kalshi all filed applications with regulators to offer perpetual futures tied directly to individual US stocks.
The timing of these filings aligns with a broader shift in the regulatory landscape. US financial watchdogs, including the Securities and Exchange Commission (SEC) and the CFTC, have continued to advance various crypto-friendly policy initiatives and regulatory pathways, even as broader legislative efforts stalled. Notably, the momentum follows the failure of the CLARITY Act to advance in the Senate on September 15.
Despite the legislative setback on Capitol Hill, federal regulators have moved forward with targeted structural adjustments. Just days after the Senate vote, the SEC cleared limited onchain trading for tokenized US stocks via its Innovation Exemption framework. Simultaneously, the CFTC expanded its own regulatory relief measures for software providers that connect retail and institutional users to regulated derivatives platforms, including those facilitating perpetual contract trading.
The CFTC had already been laying the regulatory groundwork for these products for months. In May, the agency established a specialized, case-by-case review process designed specifically to evaluate perpetual contracts. Shortly after, the CFTC approved Kalshi’s Bitcoin perpetual futures product. This was followed in June by the issuance of temporary regulatory relief that permitted certain registered exchanges to convert existing crypto futures into contracts lacking expiration dates.
As regulatory bodies continue to review these novel financial instruments, the outcome of OG.com’s latest filing—alongside parallel bids from Coinbase, Bitnomial, and Kalshi—will likely determine how quickly and widely perpetual futures are integrated into the mainstream US equity trading landscape.
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