2026-11020NoticeWallet

CFTC Greenlights Bitcoin Contracts That Never Expire

Published Date: 6/3/2026

Notice

Summary

The Commodity Futures Trading Commission (CFTC) is now allowing U.S. markets to list perpetual contracts, starting with bitcoin-based ones, as official futures contracts. This means traders can buy and sell these never-expiring contracts on regulated U.S. exchanges, bringing more clarity and safety to crypto trading. The new rules took effect on May 29, 2026, and each new type of perpetual contract will be reviewed carefully before approval.

Analyzed Economic Effects

3 provisions identified: 2 benefits, 0 costs, 1 mixed.

Bitcoin Perpetuals Allowed on U.S. Futures Markets

If you trade or invest in crypto, you can now buy and sell a bitcoin-based perpetual contract on a regulated U.S. designated contract market (DCM) because the Commission approved a bitcoin-referencing perpetual as a futures contract. The Commission issued the related Order approving the KalshiEX LLC BTCPERP futures contract and adopted this policy on May 29, 2026.

Non-Bitcoin Perpetuals Need CFTC Approval

Perpetual contracts that reference asset classes not covered by the bitcoin Order (for example, agricultural products, precious metals, equity securities, or narrow-based security indexes) should be submitted to the Commodity Futures Trading Commission for case-by-case review and approval under Commission Regulation 40.3. The Commission says these products raise unique issues and believes the 40.3 voluntary product approval process is appropriate for those listings.

Prior Review Promoted to Improve Clarity

The Commission says prior review under Regulation 40.3 promotes transparency and helps staff and registrants engage during product development. That review is intended to provide greater regulatory clarity for market participants and the public, which the Commission links to keeping innovation in regulated U.S. markets.

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Key Dates

Effective Date
Published Date
5/29/2026
6/3/2026

Department and Agencies

Department
Independent Agency
Agency
Commodity Futures Trading Commission
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