New changes have occurred in the United States encryption derivatives market. Citing CBOE Global Markets executive, the exchange operator is assessing whether the existing bitcoin and the futures of the Taishu are being adjusted to sustainable contracts. In the context of the recent release of products under United States regulation, competition among regulated platforms has increased significantly.
Kalshi trades are rapidly expanding.
The Wall Street Journal reported on 23 June that CBOE was studying the feasibility of a permanent contract structure. The head of the CBEE derivatives business, Rob Hocking, stated that the exchange had begun to assess this direction in connection with the approval by the United States Commodity Futures Trading Commission of Kalshi to launch an encrypted and sustainable contract.
When Kalshi went online on related products, the deal grew fast. Reports indicate that the cumulative volume of their encrypted and sustainable contracts exceeded $8.5 billion in weeks of roll-out. This progress has also led traditional futures exchanges to revisit product arrangements.
CME Prosecution Regulatory Decision
Not all old exchanges accept this change. Earlier this month, Zhiqiang sued the United States Commodity Futures Trading Commission, claiming that allowing Kalshi to go online to renew futures violated federal law and had a direct competitive impact on existing futures exchanges.
In recent years, the contract of durability has become the dominant product in the encrypted derivatives market. Unlike traditional futures, such contracts do not have a fixed maturity date, and they usually bring the contract price to the nearest asset through the periodic fund rate mechanism.
Controlled and chained platform synchronized expansion
In addition to traditional exchanges, encryption platforms and decentrized markets are accelerating the deployment of durable products. Coinbase launched a permanent futures to be indexed to the stock index this month, for eligible United States traders, covering such segments as artificial intelligence, defence and Chinese stocks.
The heat is also rising for commodities. BitMEX recently mentioned that, as oil and gold prices increased, market interest in the renewal of large commodities was increasing.
The chain market is equally large. DeFiLlama data show that the Decentre Exchange has processed more than $22.5 billion in long-term contract transactions over the past 24 hours and approximately $66.3 billion over the past 30 days, of which Hyperliquid has a large share.
Competition between traditional futures platforms, encrypted primary exchanges and decentrized exchanges is further intensifying as regulated United States exchanges gain access to the path to the roll-out of sustainable contracts. Originally concentrated in transactions outside the United States, more local platforms are being attracted to fight.