Key Takeaways
- • Crypto.com and OG.com began offering leveraged crypto perpetual futures to eligible US customers on October 27, covering Bitcoin, Ether, Solana, Hyperliquid's HYPE, Zcash and Sei at up to 5x leverage with no expiration date.
- • The contracts are offered through Crypto.com | Derivatives North America, a CFTC-regulated exchange and clearinghouse within the OG.com ecosystem, with customer accounts carried by Foris DAX FCM.
- • The launch follows the CFTC's May 29 approval of the first federally regulated Bitcoin perpetual futures, which cleared Kalshi and Coinbase Financial Markets, according to CoinDesk; Crypto.com is the fourth major platform in that lane.
- • Only US dollar cash is accepted as collateral, and at 5x leverage $200 of margin controls a $1,000 position, with isolated margin and take-profit and stop-loss orders supported.
- • The launch comes as Kalshi litigates whether its prediction markets fall under federal CFTC preemption or state gambling law, with conflicting rulings from a New York federal court and the Third Circuit.
Summary
Crypto.com and OG.com rolled out crypto perpetual futures contracts to eligible US customers on October 27, 2026. Traders can take leveraged long or short positions in Bitcoin, Ether, Solana, Hyperliquid's HYPE, Zcash and Sei at up to 5x leverage. Because the contracts have no settlement date, there is no forced rollover. The products are available on the Crypto.com app, aimed at retail users, and on the Crypto.com Exchange, designed for institutional and advanced traders. Crypto.com, founded in 2016, recently registered as an introducing broker with the National Futures Association.
The contracts are offered through Crypto.com | Derivatives North America, a CFTC-regulated exchange and clearinghouse within the OG.com ecosystem, with customer accounts carried by Foris DAX FCM. According to the original report, the structure matters because perpetual futures have existed for years on offshore platforms, largely unregulated and often with far higher leverage than 5x. Bringing them onto US soil required a specific regulatory step: on May 29, the CFTC approved the first federally regulated Bitcoin perpetual futures contracts in the country, clearing Kalshi and Coinbase Financial Markets to list them, according to CoinDesk. Kraken said at the time it would follow within 30 days.
The mechanics are simple. Only US dollar cash counts as collateral, and at 5x leverage, $200 in margin controls a $1,000 position. The platform supports isolated margin along with take-profit and stop-loss orders. The report notes that leverage magnifies losses on volatile tokens: a 20% adverse move at 5x would erase initial margin before maintenance requirements, funding payments, fees or liquidation are considered.
The launch also unfolds amid unresolved legal questions. Kalshi, one of the first platforms cleared for these contracts, is separately contesting whether its prediction markets are federal derivatives or state-regulated gambling. In July, US District Judge Analisa Torres in Manhattan denied Kalshi's request for a preliminary injunction against New York's enforcement of gambling laws, finding Kalshi had not shown it was likely to establish CEA preemption as applied to its sports-event contracts. In April, the Third Circuit Court of Appeals reached the opposite conclusion on a near-identical New Jersey question, affirming an injunction on the theory that the CEA likely preempts state gambling law for CFTC-licensed contracts. The split does not directly govern crypto perpetuals, but it defines the regulatory backdrop in which the launch occurs. The report characterizes the rollout as evidence that exchanges are proceeding with leveraged retail products without waiting for the preemption question to be resolved.
The contracts are offered through Crypto.com | Derivatives North America, a CFTC-regulated exchange and clearinghouse within the OG.com ecosystem, with customer accounts carried by Foris DAX FCM. According to the original report, the structure matters because perpetual futures have existed for years on offshore platforms, largely unregulated and often with far higher leverage than 5x. Bringing them onto US soil required a specific regulatory step: on May 29, the CFTC approved the first federally regulated Bitcoin perpetual futures contracts in the country, clearing Kalshi and Coinbase Financial Markets to list them, according to CoinDesk. Kraken said at the time it would follow within 30 days.
The mechanics are simple. Only US dollar cash counts as collateral, and at 5x leverage, $200 in margin controls a $1,000 position. The platform supports isolated margin along with take-profit and stop-loss orders. The report notes that leverage magnifies losses on volatile tokens: a 20% adverse move at 5x would erase initial margin before maintenance requirements, funding payments, fees or liquidation are considered.
The launch also unfolds amid unresolved legal questions. Kalshi, one of the first platforms cleared for these contracts, is separately contesting whether its prediction markets are federal derivatives or state-regulated gambling. In July, US District Judge Analisa Torres in Manhattan denied Kalshi's request for a preliminary injunction against New York's enforcement of gambling laws, finding Kalshi had not shown it was likely to establish CEA preemption as applied to its sports-event contracts. In April, the Third Circuit Court of Appeals reached the opposite conclusion on a near-identical New Jersey question, affirming an injunction on the theory that the CEA likely preempts state gambling law for CFTC-licensed contracts. The split does not directly govern crypto perpetuals, but it defines the regulatory backdrop in which the launch occurs. The report characterizes the rollout as evidence that exchanges are proceeding with leveraged retail products without waiting for the preemption question to be resolved.
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