The CFTC issued notices affecting platforms seeking to offer cryptocurrency perpetual futures contracts, including a no-action position for Coinbase and approval for Kalshi. The US Commodity Futures Trading Commission (CFTC) took positions on cryptocurrency perpetual futures contracts and how the industry may be more suited for “24/7 trading, clearing, and settlement.” In a Friday notice, the CFTC said it had approved perpetual futures contracts tied to the spot price of Bitcoin for prediction markets platform Kalshi. The company announced at about the same time that it would launch the perpetual futures contracts on its platform in a move closer to a derivatives exchange. “​​The Order was based on representations and submissions made by Kalshi in support of its request for Commission approval, including its explanation and analysis of the BTCPERP Contract’s terms and conditions, the nature of the underlying commodity market, and the BTCPERP Contract’s compliance with applicable provisions of the Commodity Exchange Act and the Commission’s regulations thereunder, including the Core Principles applicable to [Designated Contract Markets],” said the CFTC. The perpetual futures contracts, or “perp” products, would allow Coinbase and Kalshi users to speculate on crypto prices without owning the underlying assets. The CFTC no-action position for Coinbase and approval for Kalshi represented the US agency being more open to crypto derivatives. Coinbase chief legal officer Paul Grewal called the CFTC decision a “massive first for the industry” in a Friday X post. The exchange launched stock perpetual futures for non-US traders in March. Related: CFTC seeks to reverse settlement deal with Gemini In a separate notice, the CFTC distinguished between the suitability of traditional markets and crypto markets for 24/7 trading. According to the agency, “derivatives referencing crypto assets may be well-suited for 24/7 trading due to their digital infrastructure and global re