Kraken launches CFTC-regulated perpetual futures for US traders

Kraken's New Offering

The perpetual futures products are available through Kraken Pro and include contracts tied to Bitcoin, Ether, Solana, XRP, Cardano, Chainlink, Dogecoin, Litecoin, and Avalanche. The contracts share the same futures wallet as Kraken's existing CME-listed crypto futures products, which the exchange added support for in July 2025.

Kraken acquired Bitnomial in April through parent company Payward. The company had announced in late May that it planned to introduce CFTC-regulated perpetual futures through the platform. This week's launch also coincided with Kraken launching margin trading for eligible US customers earlier in the month.

Regulatory Momentum Shifts

The broader crypto derivatives market is enormous. Perpetual futures generated more than $60 trillion in global trading volume in 2025, yet have largely been traded on offshore platforms rather than regulated US venues. That's beginning to change.

Late May marked a regulatory inflection point. On May 29, the CFTC approved Kalshi's Bitcoin perpetual futures contract and issued a no-action position for Coinbase. Coinbase Financial Markets announced it would provide US institutional clients access to global crypto perpetual futures and options markets on the same day. Global crypto perpetual futures and options markets account for roughly 80% of global crypto trading volume.

The regulatory environment itself has shifted. In a January speech, CFTC Chair Michael Selig signaled a new approach—one aimed at bringing activity home rather than pushing it offshore.

"the agency would use its existing authority to support perpetual futures and other novel derivatives products in the US" — CFTC Chair Michael Selig