CFTC approves individual stock perpetual futures in the US

The CFTC, the US regulator that oversees derivatives, has approved trading in perpetual futures on individual stocks. According to The Block, which published the report on November 3, 2026, this is the first such approval in the United States. The decision matters beyond crypto circles, since it touches the broader rules for derivatives.

What happened

• The regulator approved trading in perpetual futures tied to individual stocks in the US.
• According to The Block, this is the first decision of this kind for the American market.
• This overview relies on the headline and publication date. Admission conditions, the list of venues and contract parameters are not covered in the material available to us, so check primary sources before drawing conclusions.

What perpetual futures are

A traditional futures contract has an expiry date, after which it settles. A perpetual contract has no such date, so a position can be held for as long as the trader keeps enough margin. To keep the contract price close to the underlying asset, a periodic payment mechanism between long and short positions is used, usually called the funding rate.

This structure has long been familiar to crypto exchange users. What is new here is applying the perpetual logic to stocks within a regulated US framework.

Why it matters for the market

• A product that was mostly visible on crypto platforms is now discussed in the context of derivatives under federal oversight.
• Approval opens the formal possibility of trading but does not guarantee fast growth in volumes. Liquidity will depend on how venues and market participants actually work with the product.
• Regulatory decisions like this often serve as reference points for other jurisdictions and for debates about which assets can be offered in a perpetual format.

What it means for traders

News of an approval does not mean the instrument suits everyone, and it is worth reviewing it through the lens of risk management.

• Leverage. Perpetual contracts are often traded with borrowed funds, so a relatively small price move can produce large losses. Position size and margin management matter more than expectations about direction.
• Company events. Stock prices react to earnings, management decisions and macro news. For a perpetual contract, these events add event risk.
• Liquidity at launch. New products often have thin order books and wide spreads. Before entering, assess market depth and the real cost of execution.
• Funding. Holding a position for a long time means funding payments can noticeably affect the result, even if the price moves in the expected direction.
• What to watch next: admission conditions, the list of eligible stocks, margin requirements and venue fees, and how the market behaves in the first weeks after launch.