Crypto.com is moving closer to launching single stock futures in the United States after the SEC acknowledged a Form 1-N filing with the North American Derivatives Exchange (Nadex).
CEO Kris Marszalek revealed that the company is now “licensed” to trade single stock futures through OG.com, its standalone prediction market platform regulated by the CFTC and launched in February.
Single Stock Futures in the United States
In a post on X, Marszalek also said the team is working with the SEC and CFTC for the US offering. Single stock futures are contracts tied to the future price of individual stocks. They allow traders to take positions in stocks through futures contracts rather than purchasing the underlying stocks directly.
The SEC document, dated September 16, confirms that the filing was made pursuant to Section 6(g) of the Securities Exchange Act of 1934.
Crypto.com is not the only platform looking to introduce single stock perpetual futures in the United States. According to the Wall Street Journal, Kalshi is also seeking regulatory approval for its products. The prediction market operator reportedly intends to offer around 60 perpetual contracts tied to major stocks and ETFs, including Tesla, Apple and Nvidia. The planned stock deals would target companies with a market value of at least $100 billion.
Coinbase has also filed a notice of registration with the SEC to offer single-stock perpetual futures contracts domestically. Earlier this month, the company said it was working with both regulatory watchdogs to bring its products to the U.S. market.
This development reflects the desire of relatively new platforms to expand into areas long dominated by traditional financial companies.
Prediction Markets Push
The latest development comes days after Robinhood announced the expansion of 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 starting September 8.
As part of the deal, Robinhood Markets will take stakes in both after OG.com becomes an independent trading platform. The stakes will be priced in line with Citadel Securities’ recent investment in Crypto.com Group, valued at $20 billion.
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