US just legalized crypto futures — grab Coinbase before the revenue kicks in
The top U.S. derivatives regulator just gave the green light for crypto perpetual futures contracts to trade on American soil for the first time. Coinbase and Kalshi were specifically named as platforms moving forward with these products — bringing a hugely popular trading tool that until now only existed on offshore exchanges.
Idea
Perpetual futures are the most popular crypto trading product in the world — tens of billions trade every day — but until now Americans had to use offshore exchanges to access them. The CFTC just changed that, and Coinbase is the biggest direct beneficiary because they received a specific no-action letter to proceed. This opens up an entirely new, high-margin revenue stream for Coinbase. When a major company gets a whole new business line handed to it by regulators, the stock tends to re-rate higher as analysts build the new revenue into their models.