US approves single-stock perpetual contracts for regulated exchanges; Kalshi launches four US stock perps

On November 3, 2026, CFTC Chairman Mike Selig announced that single-stock perpetual contracts are approved for the first time on US regulated exchanges under a dual CFTC-SEC framework. The same day, Kalshi began offering four US stock perpetual contracts—AMGN, MCD, QCOM, and COST—with up to about 4.9x leverage. The article also reviews crypto platforms' prior exploration of tokenized US stocks and perpetual contracts, plus ICE's plan to adopt Hyperliquid-based infrastructure.