OG.com Wants to Perp-Walk US Stocks Into the 24-Hour Trading Era 📈

OG.com Markets has filed with the Commodity Futures Trading Commission (CFTC) to launch cash-settled single-stock perpetual futures that would trade 24 hours a day, five days a week, according to a Thursday submission reviewed by industry outlets. Perpetual futures, or "perps," carry no expiration date, letting traders hold continuous exposure without rolling positions; BitMEX pioneered the product in crypto in 2016.

OG.com, recently spun out of Crypto.com as an independent prediction markets and derivatives platform valued at $5 billion, said at the time of the separation that it planned to expand beyond prediction markets into futures and perpetual contracts. CEO Kris Marszalek announced the broader strategy as part of the launch, and Robinhood subsequently took an equity stake in OG.com under a multi-year deal to use its CFTC-regulated derivatives exchange and clearinghouse for prediction markets.

The filing adds OG.com to a cohort of platforms moving single-stock perps toward the US market. On Sept. 18, Coinbase, Kraken parent Payward through its Bitnomial exchange, and Kalshi each submitted applications for perpetual futures tied to individual US stocks, following the Senate's Sept. 15 failure to advance the CLARITY Act. Trump Media & Technology Group separately moved to terminate its deal with Crypto.com.

Regulators have continued crypto-related initiatives regardless of the legislation's fate. Days after the Senate vote, the Securities and Exchange Commission (SEC) approved limited onchain trading of tokenized US stocks under its Innovation Exemption, while the CFTC expanded relief for software providers routing users to regulated derivatives platforms, including those offering perpetual contracts. The CFTC had established a case-by-case review process for perpetual contracts in May, approved Kalshi's $BTC perpetual futures product that month, and in June granted temporary relief allowing registered exchanges to convert existing crypto futures into contracts without expiration dates.