US regulators finally greenlight crypto 'perps' — Coinbase is first in line to cash in
US regulators just gave the green light for crypto perpetual futures contracts to be offered on American soil for the first time. Coinbase and prediction market Kalshi are first in line to offer these products, which have been wildly popular on offshore exchanges for years.
Idea
Perpetual futures are the most-traded crypto product in the world — they handle more volume than regular spot trading on many days — but until now Americans could only access them through offshore exchanges. The CFTC's decision to let Coinbase offer them onshore is a game-changer for Coinbase's revenue potential because these products generate massive trading fees. It's also broadly bullish for crypto itself: easier, regulated access to leveraged crypto trading in the US should boost overall market activity and liquidity. Even though Bitcoin ETFs have seen recent outflows, this structural regulatory win could mark a turning point for institutional crypto demand.