OG.com seeks CFTC approval for single-stock perpetual futures
In brief
- OG.com filed with CFTC to list perpetual futures on individual stocks
- Perpetual futures allow traders to hold positions indefinitely with no expiration date
- Coinbase, Kalshi, and Payward filed identical proposals in September
- Robinhood holds equity stake in OG.com under multi-year deal
The Filing
OG.com filed with the CFTC on Thursday seeking approval to list perpetual futures contracts tied to individual US stocks. The move puts the platform alongside other major exchanges pushing for the same regulatory green light. Coinbase, Kraken parent Payward through its Bitnomial exchange, and prediction market Kalshi all filed in September to offer similar products.
What Are Perpetual Futures?
Unlike traditional futures contracts, perpetual futures have no expiration date, allowing traders to maintain exposure without periodically rolling into new contracts. The product was pioneered in crypto by BitMEX in 2016 and has since become a staple of digital-asset trading. Now exchanges want to extend the structure to traditional equity markets.
The CFTC has signaled openness to the product class. In May, the agency approved Kalshi's Bitcoin perpetual futures product and established a case-by-case review process for perpetual contracts. In June, the CFTC granted temporary relief allowing certain registered exchanges to convert existing crypto futures into contracts without expiration dates.
OG.com's Path Forward
OG.com was valued at $5 billion at the time of its spin-off from Crypto.com. Shortly after the separation, Robinhood took an equity stake in the platform as part of a multi-year deal to use its CFTC-regulated derivatives exchange and clearinghouse for prediction markets. At the time, CEO Kris Marszalek said the platform planned to expand beyond prediction markets into futures and perpetual contracts. The Thursday filing represents that expansion in action.
