Kraken has started offering perpetual futures trading to US-based customers, using a CFTC-regulated venue it gained through the acquisition of Bitnomial. The move brings a popular offshore product onshore, letting American traders access leveraged crypto derivatives through a federally regulated exchange.
The Bitnomial deal
Kraken completed its acquisition of Bitnomial earlier this year. Bitnomial is a CFTC-regulated derivatives exchange, giving Kraken a ready-made infrastructure to offer futures products to US customers. The launch of perpetual futures is the first major product to come out of that deal.
Why onshore matters
Perpetual futures have long been a staple of crypto trading, but most volume has flowed through offshore platforms. US regulators have increased scrutiny of unregistered derivatives offerings, pushing exchanges to seek domestic licenses. Kraken's move is part of a broader industry trend to bring crypto derivatives under US regulatory oversight.
What US traders get
The new product allows US customers to trade perpetual futures — contracts that never expire — with leverage. Kraken says the offering is available through its CFTC-regulated venue, meaning it complies with US derivatives laws. The exchange did not disclose the specific leverage limits or available trading pairs.
Kraken is expected to expand its derivatives lineup in the coming months, potentially adding options and other products. The launch also puts pressure on rivals like Coinbase and Gemini, which have been slower to offer regulated futures to US retail traders. For now, Kraken is the first major US exchange to offer perpetual futures through a CFTC-regulated venue.
