CFTC Approves First US-Regulated Bitcoin Perpetual Futures

The agency approved Kalshi's BTCPERP contract, the first bitcoin perpetual on a registered U.S. exchange, and in a separate action cleared Coinbase to route customers to its offshore Deribit affiliate. Together the moves open an onshore path for a product long pushed abroad and raise the competitive stakes for dominant venues such as Hyperliquid.

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