OG.com Markets has asked US commodity regulators to let it list a new class of equity derivatives that never mature: cash-settled perpetual futures on individual American stocks.
The request, submitted last week to the Commodity Futures Trading Commission (CFTC), would allow the platform to offer contracts that stay open indefinitely and trade around the clock five days a week.
The products would give traders continuous exposure to a single company’s shares without the need to roll a position into a new contract every month or quarter. Settlement would be in cash, not stock.
Each contract would reference one share of the underlying company, use the official cash-market price as its index, and stay aligned with that price through a periodic funding payment exchanged among longs and shorts.
Trading hours would run 24 hours a day from Monday through Friday, following the exchange’s holiday calendar.
OG.com is the derivatives and prediction-market venue recently separated from Crypto.com and valued at about $5 billion.
When the spin-off was announced, Chief Executive Kris Marszalek said the company intended to move beyond event contracts into futures and perpetual products.
Shortly afterward, Robinhood took an equity interest in the platform as part of a multi-year arrangement to route prediction-market activity through OG.com’s CFTC-registered exchange and clearinghouse.
The latest filing sits in a crowded field. On September 18, Coinbase, Kalshi, and Payward’s Bitnomial exchange each asked the CFTC for permission to offer perpetual futures on individual U.S. stocks.
Those applications followed months of case-by-case review by the agency after it first approved certain perpetual contracts earlier in the year.
Because single-stock futures are security futures, they sit under joint CFTC and Securities and Exchange Commission (SEC) oversight.
OG.com already holds designated-contract-market and derivatives-clearing-organization status with the CFTC and is notice-registered with the SEC for security futures products.
Contract names listed in the submission include large-cap technology and consumer names such as Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, Tesla, AMD, and Micron, along with SpaceX.
Proposed specifications call for a $0.01 tick, cash settlement in dollars, margin of at least 15.05 percent of position value, and maximum leverage of about 6 times.
Only one contract per underlying would be listed at a time.
The exchange says surveillance, halt coordination, and dual-trading restrictions would apply in line with existing security-futures rules.
Perpetual futures have long been a staple of offshore crypto markets because they let participants keep a position open without calendar friction.
Bringing that structure onto regulated US equity underlyings would be a notable shift.
It would also test how funding-rate mechanics, 24/5 trading, and cash settlement interact with investor protection rules written for traditional security futures.
Approval is not automatic.
The CFTC has said products tied to individual equities must be reviewed one by one rather than under a blanket perpetual-futures framework.
If the agency signs off, OG.com says listing and clearing would begin on the approval date or on a later date announced by the exchange.
Whether or not these contracts ultimately trade will depend on that review, on parallel SEC considerations, and on whether retail and institutional brokers choose to offer them. For now, the filing confirms that several crypto-native and prediction-market venues see single-stock perpetuals as the next product they want inside the US regulatory perimeter.