Key facts
- Kraken has launched regulated perpetual futures contracts for U.S. traders.
- The launch was made possible by the acquisition of Bitnomial, a CFTC-regulated designated contract market.
- Perpetual contracts offer continuous exposure to underlying assets without expiration dates.
- Kraken's move aims to provide U.S. traders with a regulated, domestic alternative to offshore crypto derivatives platforms.
- Competitors like Kalshi and Coinbase are also expanding their U.S. derivatives offerings.
Kraken has officially launched regulated perpetual futures trading for U.S. customers, marking a significant shift for the digital asset derivatives market. The move, enabled by the acquisition of CFTC-regulated derivatives platform Bitnomial, allows U.S. traders to access perpetual contracts onshore for the first time.
Perpetual contracts, which offer continuous exposure to underlying assets without expiration dates, are the most widely traded derivatives in global crypto markets, with annual volumes exceeding $60 trillion. Previously, most of this volume was accessible only through offshore, largely unregulated platforms.
Kraken's filing for these contracts was submitted on May 29, 2026, and the product will operate through Bitnomial, providing a regulated structure for exchange, clearing, and brokerage services. The contracts feature continuous pricing, no expiration, and an eight-hour funding rate, and will reside in the same futures wallet as Kraken's existing CME-listed contracts.
John Palmer, Kraken's global head of derivatives, stated that U.S. traders have been seeking a regulated, domestic way to trade perpetuals, and this integration changes how clients can build and manage their crypto positions. The launch places Kraken in a competitive race with other platforms like Kalshi, which also received CFTC approval for a Bitcoin perpetual futures contract, and Coinbase Financial Markets, which is offering U.S. institutional clients access to global crypto options and perpetual futures.
This expansion is part of a larger strategic pivot by Kraken's parent company, Payward, to become a full-spectrum digital asset infrastructure provider. Payward's acquisition of Bitnomial for up to $550 million was a key step in securing the necessary regulatory scaffolding. Deutsche Börse Group's $200 million investment in Payward further integrates Kraken with traditional finance infrastructure, including its 360T FX trading venue.
Eligible U.S. clients are expected to gain access to the new perpetual futures within 30 days of the May 29 announcement. The growing competition and demand for compliant crypto trading products suggest that regulated perpetual futures could become a major segment of the domestic market.