U.S. just legalized crypto perps — accumulate Coinbase ahead of the volume wave
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 prediction-market platform Kalshi are first in line to offer these products, which have until now only existed on offshore exchanges.
Idea
Perpetual futures are the most popular crypto trading product worldwide, handling trillions in monthly volume — but Americans have been locked out of regulated versions. With Coinbase now cleared to offer them domestically, the company stands to capture a massive new revenue stream from traders who previously used offshore platforms. This is a structural shift, not a one-day headline. The bullish read-through also extends to crypto itself, since easier U.S. access to leveraged products has historically boosted spot prices.