CFTC clears perpetual futures on single US stocks for regulated exchanges
The CFTC says equity perps were deemed approved as security futures under joint CFTC and SEC oversight. It named no exchange, listed no contracts and set no launch date, and a group backed by Cboe and Citadel Securities has sued to block the policy.
· Announced · Verified 2026-11-04 via official announcement
Announced Nov 3, 2026: CFTC clears perpetual futures on single US stocks for regulated exchanges. Affects: US traders who want stock perps on a regulated US exchange. Source: cftc.gov, verified Nov 4, 2026. Hyperliquid code DEXSHEET (4% off fees).
CFTC Chairman Michael Selig said on 3 November 2026 that perpetual futures on individual equity securities can begin trading for the first time on CFTC-registered exchanges. The contracts were deemed approved under Commission Regulation 40.3 as security futures products, so they fall under both the Commodity Exchange Act and federal securities laws, with oversight by the CFTC and the SEC.
The statement covers designated contract markets that are also notice-registered with the SEC as securities exchanges for security futures. It does not say which exchange made the filing, which stocks are covered or when trading starts, and CoinDesk reports that no exchange or contract was named. Until an exchange lists a contract, there is nothing for traders to buy. The move follows the CFTC's 29 May 2026 approval of Kalshi's bitcoin perpetual, the first US-listed crypto perp.
A newly formed group, the Capital Markets Alliance, sued the CFTC in the US District Court for the Southern District of New York on 3 November, CoinDesk reports. It argues that single-stock perps are security-based swaps that belong under the SEC and that the CFTC broke the Administrative Procedure Act; a spokesman said its members include Cboe, Citadel Securities and the Healthy Markets Association. CME Group has separately sued the CFTC over its earlier crypto-perp stance. No court has ruled on either suit.
For Hyperliquid and Trade[XYZ] users, nothing changes today. Hyperliquid's and trade.xyz's terms still list US persons as restricted. Two announced routes to US-regulated perps built on Hyperliquid, ICE's deal with Trade[XYZ] and Kraken parent Payward's plan, still need approval and have no launch date. Kalshi, which offers perps to approved US users, has said it plans single-stock perps but has not given a date.
“Today, perpetual futures contracts on individual equity securities (the “Equity Perps”) can begin trading for the first time on CFTC-registered exchanges.”
— CFTC Chairman Michael S. Selig, Statement on Equity Perpetual Futures, 3 November 2026
Who this affects
US traders who want stock perps on a regulated US exchange, and offshore stock-perp traders on Hyperliquid and Trade[XYZ], where US persons remain restricted.
Hyperliquid at a glance
Hyperliquid is a layer-1 blockchain whose HyperCore layer runs fully onchain perpetual futures and spot order books, with a HyperEVM smart-contract layer alongside. It targets active perps traders who want order-book trading from a self-custodied wallet.
Full Hyperliquid sheet · 0.09% round trip · Also affects trade.xyz, Kalshi
More from the newsroom
Sources
Last checked . Fees and terms change often; the venue's own page wins if it disagrees with ours.
- CFTC - Chairman Michael S. Selig, Statement on Equity Perpetual Futures (3 Nov 2026) — checked 2026-11-04
- CoinDesk - CFTC clears perpetual futures on stocks, bringing crypto trading model to Wall Street (3 Nov 2026) — checked 2026-11-04
- The Block - CFTC approves individual stock perpetual futures trading in US for the first time (3 Nov 2026) — checked 2026-11-04
- CoinDesk - CFTC gets into legal clash over stock perps after having cleared path for crypto version (3 Nov 2026) — checked 2026-11-04
- Northeast Times - CFTC Says Stock Perpetual Futures Are Approved for US Trading, With No Launch Date (3 Nov 2026) — checked 2026-11-04
- Hyperliquid - Terms of Use — checked 2026-11-04
- Trade[XYZ] - Terms of Use — checked 2026-11-04
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