US stock perpetuals gain a pathway, with trading halt limits

Single-stock perpetual futures have a route to trading on eligible regulated exchanges in the United States, but that permission comes with a restriction on when traders can exit. According to CryptoPulseDaily, the CFTC said on November 3 that the contracts could begin trading, provided they stop whenever the underlying stock is subject to a regulatory halt.

Permission does not establish every product’s status

The CFTC’s statement does not settle the launch status of every proposed product. CryptoPulseDaily reported that Coinbase’s individual product record continued to show approval pending when checked on November 4.

That distinction matters when assessing whether a specific contract has cleared its remaining hurdles. The reported permission for eligible exchanges and Coinbase’s pending product record are separate pieces of evidence, rather than confirmation that every proposal is ready to trade.

Halt rules and requests for review

The halt requirement also limits trading availability. If a regulatory halt affects the underlying stock, trading in its perpetual futures must stop as well, preventing exits through that contract while the halt applies.

Industry scrutiny preceded the CFTC statement. According to CryptoPulseDaily, securities industry group SIFMA wrote on November 2 requesting further review of proposals from Bitnomial, Coinbase, Kalshi and Nadex.

What it means for prediction markets

• Separate permission from product approval: Markets tied to a particular launch should distinguish the November 3 CFTC statement from the status of individual proposals, including Coinbase’s pending record on November 4.
• Account for trading interruptions: The contracts cannot provide an exit during a regulatory halt in the underlying stock.
• Keep review requests in context: SIFMA’s November 2 letter establishes that it sought further scrutiny; the supplied reporting does not establish the outcome of that request.