CFTC Lets Traders Bet on Stocks With Crypto-Style Perpetual Futures

The CFTC will permit "equity perpetual futures" to trade on CFTC-registered exchanges, Chairman Michael Selig said, extending a crypto-native derivative structure to traditional stocks. The instrument lets traders hold leveraged, open-ended positions in equities without expiry dates, mirroring the funding-rate mechanics used in crypto perpetual swaps. The move matters because it brings 24/7-style, roll-free leveraged stock exposure into the U.S. regulated derivatives framework and could pull volume from traditional futures and swaps venues. Watch for which registered exchanges list the contracts first, initial margin and funding-rate terms, and whether crypto-native platforms seek parallel approval.