OG.com has formally applied to the Commodity Futures Trading Commission to list perpetual futures contracts tied to single stocks, marking a push to bring the widely used crypto derivative to U.S. equity markets.

The company submitted a rule change proposal on Thursday that would permit cash-settled, non-expiring futures tied to individual equities. These contracts would trade around the clock for five days each week.

OG.com emerged from Crypto.com earlier this year as an independent platform focused on prediction markets and derivatives. At the time of its spin-off, CEO Kris Marszalek indicated plans to expand into futures and perpetual contracts. Shortly thereafter, Robinhood acquired a stake in the company as part of a broader agreement to use OG.com’s CFTC-regulated exchange and clearing infrastructure for prediction markets.

Perpetual futures, commonly known as "perps," differ from traditional futures by lacking an expiration date. This allows traders to maintain positions indefinitely without the need to roll contracts. The model was first introduced in crypto by BitMEX in 2016.

The move reflects a broader trend among crypto platforms seeking to expand into traditional financial instruments. On September 18, Coinbase, Kraken’s parent company Payward through Bitnomial, and prediction market Kalshi also filed applications with the CFTC to offer perpetual futures on U.S. stocks.

Regulatory developments have created a more permissive environment for such products. Just days before OG.com’s filing, the SEC approved limited on-chain trading of tokenized stocks under its Innovation Exemption. The CFTC had previously established a case-by-case review process for perpetual contracts and granted temporary relief in June allowing certain exchanges to convert existing crypto futures into non-expiring contracts.

The agency had begun preparing for this shift months earlier, including through a May announcement outlining its approach to evaluating perpetual derivatives. Kalshi had previously received approval for Bitcoin perpetual futures under this framework.

No timeline for implementation has been disclosed, and the applications remain under CFTC review.