Crypto.com’s U.S. derivatives exchange has taken a regulatory step toward offering perpetual futures on individual stocks in the United States. On September 14, the Securities and Exchange Commission (SEC) received a warning from North American Derivatives Exchange, also known as Nadex and operating under the name OG.com.
According to CEO Kris Marszalek, the business is collaborating with the SEC and the Commodity Futures Trading Commission (CFTC) to provide single-stock perpetual futures, a product structure that is currently uncommon in U.S. stocks but is frequently utilized in cryptocurrency markets.
Today, the SEC acknowledged the Form 1-N of our futures exchange through https://t.co/iXoLbdBMxc and we are now authorized to bring single-stock futures to the market. We are working with the SEC and the CFTC to offer single-stock perps in the US, which will combine the…
— Kris (@kris) September 17, 2026
On September 16, the SEC confirmed that it had received Nadex’s Form 1-N. The filing relates to the exchange’s registration for security futures products under Section 6(g) of the Exchange Act.
Security futures products include futures based on individual stocks or narrow-based stock indexes. They are jointly regulated by the SEC and CFTC. Under the relevant rules, an exchange that wants to list such products can register with the SEC for that limited purpose if it is already a CFTC-designated contract market and does not operate as a marketplace for other securities.
Nadex meets those conditions. It has been registered with the CFTC as a designated contract market and derivatives clearing organization since 2004.
Source: sec.gov
Importantly, the SEC filing is not an approval of the proposed perpetual futures. Under the applicable mechanism, the registration becomes effective when the notice is submitted. The SEC’s acknowledgement therefore confirms receipt rather than granting approval for a new product.
The proposed product would be different from conventional single-stock futures. Traditional futures have an expiry date, while perpetual futures have no fixed expiry. Their prices are generally kept aligned with the underlying asset through funding payments between long and short positions.
Perpetual futures are common in crypto derivatives markets, where they account for a significant share of trading activity. Bringing the structure to U.S. equities would therefore connect a trading model associated with digital assets to traditional stock markets.
Marszalek said the company is working with both regulators on the proposed product. The effort comes after the CFTC has already taken action involving crypto perpetuals. In May, the agency allowed Kalshi to list a Bitcoin perpetual as a futures contract, although CME has challenged that decision in federal court.
The development also follows a September 8 agreement under which Robinhood agreed to route retail event-contract volume through OG.com’s exchange and clearinghouse and take minority stakes in OG.com and Crypto.com Group. The companies have indicated plans to expand beyond prediction markets into futures and perpetual products.
If approved and launched, single-stock perpetual futures would give OG.com a new role in the U.S. equity derivatives market. For now, however, the filing represents a regulatory step toward the product rather than confirmation that such contracts will begin trading.
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