Can US regulators tame the $90 trillion perpetuals market before it destabilizes traditional finance?
As exchange stocks fall, will perpetuals democratize trading or just help retail investors get 'destroyed' faster?
U.S. CFTC Greenlights Perpetual Crypto Futures: Regulatory Shift for $100B Market Spurs Industry Clash and Investor Warnings
Overview
In early June 2026, the Commodity Futures Trading Commission (CFTC) made a landmark decision to allow perpetual futures on digital commodities to be offered as futures contracts under existing law. Previously, the CFTC had classified these contracts as swaps, which created confusion, pushed trading offshore, and disadvantaged U.S. crypto firms by effectively barring American participants. This new approval marks a major shift in the U.S. regulatory landscape, providing a clear framework for digital asset derivatives and opening the door for domestic markets to develop and offer these products, aiming to foster innovation while ensuring regulatory oversight.