Hyperliquid Labs is holding detailed talks with Payward, Kraken's parent company, about offering U.S. traders perpetual futures linked to selected tokens on the Hyperliquid blockchain through Bitnomial, a Payward-operated exchange, subject to regulatory approval. The discussions follow President Donald Trump's statement that CFTC Chairman Michael Selig was working to bring Hyperliquid into the United States in a "fully compliant and legal fashion." Former SEC senior counsel Ashley Ebersole said an agency-led route could take 10 to 12 months, although a six-month process might be possible if regulators relied heavily on existing authority or exemptive relief. The CFTC, SEC, Congress and courts would still need to resolve jurisdiction, registrations, custody, market-structure and statutory-authority questions.