Crypto.com Gets Green Light to Bring Single-Stock Futures to the US
Crypto.com is moving closer to launching single-stock futures in the United States after the SEC acknowledged a Form 1-N filing from North American Derivatives Exchange (Nadex).
CEO Kris Marszalek revealed the company is now “authorized” to bring single-stock futures to the market through OG.com, which is its CFTC-regulated standalone prediction market platform launched in February.
US Single-Stock Futures
In a post on X, Marszalek also said the team is working with the SEC and CFTC for the offering in the US. Single-stock futures are contracts linked to the future price of individual stocks. They allow traders to take positions on stocks through futures contracts rather than buying the underlying shares directly.
The SEC document, dated September 16, confirms the filing was made under Section 6(g) of the Securities Exchange Act of 1934.
Crypto.com is not the only platform looking to bring single-stock perpetual futures to the US. According to The Wall Street Journal, Kalshi is also seeking regulatory approval for the products. The prediction market operator reportedly plans to offer around 60 perpetual contracts tied to major stocks and ETFs, including Tesla, Apple, and Nvidia. The planned stock contracts would target companies with market values of at least $100 billion.
Coinbase also filed notice registrations with the SEC to offer single-stock perpetual futures domestically. Earlier this month, the company said it is working with both regulatory watchdogs to bring the products to the US market.
The development reflects a push by relatively newer platforms to expand into areas long dominated by traditional financial firms.
Prediction Markets Push
The latest development comes days after Robinhood announced expanding its partnership with Crypto.com and OG.com as prediction markets continue to grow on its platform. The companies said Robinhood will begin routing some football event contracts to OG.com from September 8.
As part of the deal, Robinhood Markets will take equity stakes in the two after OG.com becomes an independent trading platform. The stakes will be priced in line with Citadel Securities’ recent investment in Crypto.com Group at a $20 billion valuation.
