Perpetual Futures on Individual Stocks Could Hit US Markets Soon

Sarah Johnson · 2026-09-19

Imagine trading a single stock — say, Apple or Tesla — without ever owning it, and without an expiration date. That's the promise of perpetual futures, and they might be coming to US markets sooner than you think. Kalshi, a regulated prediction market, just filed a proposal to offer perpetual futures tied to individual stocks. Coinbase and Bitmomial are pursuing similar products. If approved, this could be a game-changer for how Americans trade stocks. ### What Are Perpetual Futures, Anyway? Perpetual futures (or "perps") are like regular futures contracts, but they don't expire. You can hold a position indefinitely, as long as you meet margin requirements. They're huge in crypto, where traders use them to speculate on Bitcoin and Ethereum prices without owning the actual coins. Now, imagine that same idea applied to stocks. Instead of buying shares of Amazon, you could trade a perpetual futures contract that tracks Amazon's price. You'd never own the stock, but you could profit (or lose) from its price movements. ### Why This Matters for US Traders For years, US traders have been limited to traditional futures with expiration dates. Perpetual futures offer more flexibility — you can hold a position for as long as you want, and you don't have to worry about rollover costs. Plus, they're often traded with leverage, meaning you can control a larger position with less capital. But leverage cuts both ways. It can amplify gains, but it can also amplify losses. That's why regulators are cautious. ### The Regulatory Hurdle The Commodity Futures Trading Commission (CFTC) would need to approve these products. Kalshi's proposal is just the first step. Coinbase and Bitmomial are also in the mix, which suggests growing interest from major players. If approved, these products could attract a new wave of retail traders looking for more dynamic ways to trade stocks. But they could also raise concerns about speculation and risk. > "Perpetual futures are a double-edged sword. They offer flexibility and leverage, but they also require a solid understanding of risk management." — Sarah Johnson, Senior CRM Strategist & SaaS Analyst ### What's Next? The CFTC will review the proposals, and it could take months before any decision is made. In the meantime, if you're curious about perpetual futures, start by learning the basics. Understand how leverage works, and never trade more than you can afford to lose. This is still early days, but one thing is clear: the line between traditional finance and crypto-style trading is blurring. And US traders might soon have more options than ever before. --- *Disclaimer: This article is for informational purposes only and does not constitute financial advice.*