OG.com Seeks US Approval for Stock-Linked Perpetual Futures

OG.com, an independent prediction markets and derivatives platform valued at $5 billion, is seeking US regulatory approval to offer perpetual futures tied to individual stocks. In a Thursday filing with the Commodity Futures Trading Commission (CFTC), OG.com proposed new rules allowing it to list cash-settled single-stock futures that never expire and can trade 24 hours a day, five days a week.

The product, known as perpetual futures or 'perps,' has no expiration date, allowing traders to maintain exposure without periodically rolling into new contracts. This was pioneered in crypto by BitMEX in 2016.

OG.com was recently spun out of crypto exchange Crypto.com and has a multi-year deal with Robinhood, which took an equity stake in OG.com as part of the agreement. The company plans to expand beyond prediction markets into futures and perpetual contracts.