# U.S. regulators just unlocked crypto perps — long Coinbase as the biggest winner

_AI-generated trading idea · LONG · COIN_

> Canonical page: https://commonquant.ai/research/for-you/u-s-regulators-just-unlocked-crypto-perps-long-coinbase-as-t--17ee73c3-dbfb-48a4-8f35-f59eed3b9f2c

The top U.S. derivatives regulator just greenlit crypto perpetual futures contracts to trade on American soil for the first time. Coinbase and Kalshi received specific approvals, which means a massive new revenue stream is opening up for these platforms.

## Idea

Perpetual futures are the most popular crypto trading product in the world, but until now they've only existed on offshore exchanges like Binance. Bringing them onshore to regulated U.S. platforms is a huge deal because it unlocks a product category that generates billions in fees globally. Coinbase is the biggest direct beneficiary — they already received a no-action letter from the CFTC, essentially a regulatory green light. This isn't a one-day story; building out perpetual futures trading will drive trading volume and fee revenue for quarters to come. The stock may not gap up dramatically on day one because the crypto market is distracted by Bitcoin ETF outflows, which creates an opportunity to get in before the revenue impact shows up in earnings.

## Key details

- Symbols: COIN
- Timeframes: D
- Tags: \#crypto, \#regulatory\_catalyst, \#structural\_change

## Community

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## News sources

- [CFTC opens door for crypto perpetual future contracts in US as Coinbase, Kalshi move forward](https://www.theblock.co/post/403040/cftc-opens-door-for-crypto-perpetual-future-contracts-in-us-as-coinbase-kalshi-move-forward) — The Block
- [US Paves Way for Onshore Crypto-Linked Perpetual Futures](https://www.bloomberg.com/news/articles/2026-05-29/us-paves-way-for-onshore-crypto-linked-perpetual-futures) — Bloomberg
- [CFTC backs crypto perpetual contracts, issues advisory on 24/7 trading](https://cointelegraph.com/news/cftc-crypto-perpetual-contracts-trading-advisory) — Cointelegraph

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