Overview
- Kraken began offering CFTC‑regulated perpetual futures to eligible U.S. users on Monday, June 15, listing nine major crypto contracts on Kraken Pro through Bitnomial, the CFTC‑licensed exchange Payward acquired earlier this year.
- The contracts use an eight‑hour funding rate to anchor perpetual prices to spot markets and share a single futures wallet so traders can manage spot, margin, CME‑listed futures and perps with one collateral pool.
- Access is limited to eligible or qualified U.S. clients rather than all retail customers, and Kraken said it will expand supported contracts and collateral over time.
- The launch follows CFTC actions in May that approved Kalshi’s bitcoin perp and issued no‑action relief that also let Coinbase route U.S. users to foreign perps, measures the agency says are meant to keep liquidity onshore.
- Market participants and regulators are now focused on operational and legal issues such as conservative U.S. leverage caps versus higher offshore leverage, 24/7 clearing and margin capacity, surveillance needs and whether the temporary orders will be formalized or face legal challenge.