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Kraken launches CFTC-regulated perpetual futures for U.S. traders

Kraken launches CFTC-regulated perpetual futures for U.S. traders

Kraken rolled out U.S.-regulated crypto perpetuals on Kraken Pro as CFTC Chair Michael Selig said no-expiry contracts can fit existing rules and could draw activity back from offshore venues.

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Fact Check
Kraken's official blog 'Kraken to launch first CFTC-regulated perpetual futures for US traders' directly confirms the rollout on Kraken Pro of CFTC-regulated perpetual futures, listing on Bitnomial (acquired by Kraken parent Payward) and cleared via NinjaTrader Clearing dba Kraken Derivatives US. The Block's report 'Kraken launches crypto perps trading in the US on Kraken Pro' independently corroborates the Kraken Pro launch, the Bitnomial acquisition driving the U.S. derivatives push, and the CFTC's clearance of similar products from Kalshi and Coinbase. All material elements of the claim are supported.
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Summary

Kraken has launched CFTC-regulated crypto perpetual futures for eligible U.S. clients on Kraken Pro, using Bitnomial and Kraken Derivatives US infrastructure to offer bitcoin and eight other perpetual contracts alongside CME-listed futures in a single collateral pool. The rollout comes as CFTC Chair Michael Selig said regulated futures with no expiration date can fit within the existing U.S. derivatives framework, defended the product against critics, and said crypto perpetuals would be reviewed on a single-asset basis under existing 24/7 trading guidance. Kraken said the launch targets a market gap that has left much of global perpetual futures trading on offshore venues, while Selig said regulated U.S. perpetuals would face standard leverage limits and could help shift liquidity back to domestic markets.

Terms & Concepts
  • perpetual futures: Derivatives contracts that track an asset’s price without an expiration date, allowing positions to remain open as long as margin requirements are met.
  • Commodity Exchange Act: U.S. law governing derivatives markets, which Selig said does not require a fixed expiry for perpetual futures.
  • single-asset basis: A regulatory approach under which crypto perpetual contracts are assessed individually according to the characteristics and compliance considerations of their underlying asset.