US just legalized crypto perpetual futures — Coinbase stands to win big
The main U.S. derivatives regulator just cleared the way for crypto perpetual futures contracts to trade on American exchanges. Coinbase and Kalshi are first in line to offer these products, which until now were only available on offshore platforms.
Idea
Perpetual futures are the most popular crypto trading product in the world — responsible for the vast majority of crypto trading volume globally — but they've never been legally available in the U.S. until now. Coinbase is named directly as one of the first platforms allowed to offer them, which could mean a significant new revenue stream as American traders flock to a regulated version of a product they previously accessed offshore. Regulatory green lights like this tend to re-rate a company's growth expectations, and that can lift the stock over weeks, not just days.