CFTC Approves Perpetual Futures in Regulated U.S. Market; BofA Estimates $90 Trillion Annual Global Volume

According to Bank of America, on May 29, the U.S. Commodity Futures Trading Commission (CFTC) approved perpetual futures trading in the regulated American market. Kalshi launched perpetual futures in June with over $1 billion in weekly trading volume. BofA estimates global perpetual futures annual trading volume at approximately $90 trillion.

Large financial institutions remain in the research phase, with proprietary trading firms, market makers, and emerging clearinghouses likely to participate first. Major banks face stricter capital requirements, customer obligations, and reputational risks, typically waiting for years of data, clear regulatory guidance, and stable infrastructure before entering such markets.