OG.com Seeks CFTC Approval to Launch Single Stock Perpetual Futures

OG.com Markets is seeking US regulatory approval to offer perpetual futures on individual stocks, joining a wider push by trading platforms to bring the popular derivatives product to US equity markets. In a Thursday filing with the Commodity Futures Trading Commission, OG.com proposed new rules to list cash-settled single-stock futures that never expire and can trade 24 hours a day, five days a week.

OG.com’s Background and Robinhood Backing

OG.com recently spun out of Crypto.com as an independent prediction markets and derivatives platform valued at $5 billion. CEO Kris Marszalek said at the time the platform planned to expand beyond prediction markets into futures and perpetual contracts. Shortly after, Robinhood took an equity stake in OG.com as part of a multi-year deal to use its CFTC regulated derivatives exchange and clearinghouse for prediction markets.

What Are Perpetual Futures (“Perps”)?

Unlike traditional futures, perpetual futures have no expiration date, letting traders keep exposure without rolling into new contracts. The product was pioneered in crypto by BitMEX in 2016.

Coinbase, Kalshi and Kraken Also Seeking Approval

OG.com joins a growing group pursuing this product. On Sept. 18, Coinbase, Kraken parent Payward through its Bitnomial exchange, and prediction market Kalshi all filed to offer perpetual futures tied to individual US stocks. These filings came after regulators pressed ahead with crypto initiatives despite the CLARITY Act failing to advance in the Senate on Sept. 15. Days after that vote, the SEC cleared limited onchain trading of tokenized US stocks under its Innovation Exemption, while the CFTC expanded regulatory relief for software providers connecting users to regulated derivatives platforms, including perpetual contracts.

CFTC’s Earlier Groundwork on Perpetual Contracts

The CFTC had already been laying regulatory groundwork. In May, it set up a case by case review process for perpetual contracts and approved Kalshi’s Bitcoin perpetual futures product. In June, it granted temporary relief allowing certain registered exchanges to convert existing crypto futures into contracts without expiration dates.