Key facts
- OG.com Markets is seeking CFTC approval to offer perpetual futures on individual US stocks.
- The proposed futures would be cash-settled, never expire, and trade 24 hours a day, five days a week.
- OG.com was recently spun out of Crypto.com and is valued at $5 billion.
- Robinhood took an equity stake in OG.com as part of a multi-year deal.
- Coinbase, Kraken parent Payward, and Kalshi also filed for similar approvals on September 18.
OG.com Markets is seeking approval from the Commodity Futures Trading Commission (CFTC) to offer perpetual futures contracts on individual US stocks. The platform, which was recently spun out of crypto exchange Crypto.com and is valued at $5 billion, aims to introduce these derivatives, which do not have an expiration date and can trade continuously, to the US equity markets. This move follows similar filings by other crypto-focused platforms, including Coinbase, Kraken's parent company Payward (through its Bitnomial exchange), and prediction market Kalshi, all of which submitted applications to the CFTC on September 18 to offer similar products. OG.com's CEO, Kris Marszalek, had previously stated the platform's intention to expand into futures and perpetual contracts beyond prediction markets. Robinhood has also taken an equity stake in OG.com as part of a multi-year agreement to utilize its derivatives exchange and clearinghouse for prediction markets. The push for perpetual futures on US stocks comes amid ongoing regulatory developments, including the SEC's recent clearance for limited onchain trading of tokenized US stocks and the CFTC's expansion of regulatory relief for software providers connecting users to regulated derivatives platforms.