Hyperliquid and Trade.XYZ Push CFTC to Regulate Energy Perpetuals

Hyperliquid and trade.XYZ have urged the Commodity Futures Trading Commission (CFTC) to permit regulated energy perpetual contracts. The companies argue that 24/7 markets help manage risk while futures are closed.

In a formal comment filed with the CFTC, Hyperliquid Policy Center and trade[XYZ] requested a unified taxonomy for perpetual contracts in the U.S. This move comes as the CFTC prepares to develop a comprehensive regulatory framework for crypto rules.

Kalshi is also seeking CFTC approval for COPPERPERP, a cash-settled copper perpetual with no expiration, referencing Pyth Network's copper price feed.