The U.S. Commodity Futures Trading Commission (CFTC) has approved the listing of a Bitcoin perpetual contract on a CFTC-registered exchange. This marks the first regulated “perp” product available domestically, with KalshiEX’s BTCPERP contract referencing Bitcoin’s spot price without expiration.

CFTC Chairman Michael Selig described the move as historic, aiming to bring a major segment of crypto derivatives trading into the U.S. regulatory framework. Perpetual contracts, which dominate global crypto volume, were previously mostly offshore. The approval includes safeguards for market integrity and risk management.

This development follows earlier signals from Selig about onshoring perpetual derivatives to support innovation while maintaining oversight. It aligns with broader efforts to position the U.S. as a leader in crypto markets.