OG.com Files for CFTC Approval to Launch Single-Stock Perpetual Futures

OG.com Markets, recently spun out of Crypto.com as an independent prediction markets and derivatives platform valued at $5 billion, has filed with the Commodity Futures Trading Commission (CFTC) seeking approval to offer perpetual futures tied to individual US stocks. The Thursday filing proposes new rules enabling the platform to list cash-settled single-stock futures that never expire and can trade 24 hours a day, five days a week. CEO Kris Marszalek previously indicated the platform intended to expand beyond prediction markets into futures and perpetual contracts, a strategy bolstered by Robinhood taking an equity stake in OG.com shortly after the spin-off as part of a multi-year deal to use its CFTC-regulated derivatives exchange and clearinghouse.

The move positions OG.com alongside a growing cohort of crypto and prediction market platforms racing to bring perpetual futures—derivatives with no expiration date pioneered in crypto by BitMEX in 2016—to US equity markets. On September 18, Coinbase, Kraken parent Payward through its Bitnomial exchange, and Kalshi all filed similar applications for single-stock perpetual futures products. These filings followed the September 15 failure of the CLARITY Act to advance in the Senate, though regulators have continued pushing forward with crypto-friendly initiatives, including the SEC clearing limited onchain trading of tokenized US stocks under its Innovation Exemption and the CFTC expanding regulatory relief for software providers connecting users to regulated derivatives platforms.

The CFTC had already begun laying the groundwork for perpetual futures months before the latest filings. In May, the agency established a case-by-case review process for perpetual contracts and approved Kalshi's Bitcoin perpetual futures product, followed in June by temporary relief allowing certain registered exchanges to convert existing crypto futures into perpetual contracts. The filings reflect accelerating institutional momentum to merge crypto-native derivatives structures with traditional equity markets, a development that could reshape how US retail and institutional traders access leveraged stock exposure.