CFTC Allows Single-Stock Perpetual Futures on US Regulated Exchanges

The classification as security futures, rather than a carve-out for crypto-style perpetuals, is the key structural detail: it pulls single-stock perps into the existing dual-regulator framework and imposes exchange-level requirements on venues rather than leaving them in an offshore or unregistered lane. The immediate effect is a narrower set of eligible platforms, since DCM status plus SEC exchange registration is a high bar. Whether the initial handful of names expands into broader equity coverage, and how the CFTC-SEC oversight split works in practice, is the open question worth watching.