Regulation· ★★★★· bullish·

Trump and CFTC push perpetual futures into US traditional markets

  • CFTC approved Kalshi's BTCPERP on May 29, 2026, defining it as a futures contract, not a swap
  • Kalshi filed for gold, silver and platinum perpetual futures on July 21, 2026
  • By September 2026, gold and silver perpetuals trade 24 hours a day, five days a week
  • CME Group sued the CFTC in June 2026, seeking swap classification for perpetuals
Why it matters: Legalizing perpetuals in the US could shift volume from offshore venues like Hyperliquid into a regulated jurisdiction and reshape competition with CME.
Source: Crypto Briefing