Hyperliquid seeks CFTC approval for 24/7 energy perpetuals

The joint filing, submitted August 26, argues that existing regulatory frameworks are sufficient to bring energy perpetuals into the U.S. market without requiring new legislation. Proponents highlight that when geopolitical instability disrupts energy prices over weekends, traditional U.S. futures markets remain shuttered, leaving participants unable to hedge exposure until Sunday evening. Data from the group suggests that roughly two-thirds of price movements between Friday’s close and Sunday’s reopening are already captured by on-chain markets.

Unlike dated futures, which require physical settlement or contract rolling, these perpetual instruments offer continuous price exposure. The filing proposes using stablecoins as margin collateral to ensure liquidity remains accessible outside standard banking hours. While the CFTC has not yet approved such products for energy, the submission points to the successful integration of Bitcoin perpetuals as a precedent for modernizing market access. The groups suggest that by adopting a technology-neutral stance, the regulator could allow on-chain systems to handle clearing and surveillance in real time, provided they meet established core principles for market integrity and customer protection.