BULLSTAR 
Last updated: November 12, 2026
For years, Americans who wanted crypto perpetual futures had two options: stay out, or use offshore exchanges that don't accept US customers. That changed between 2025 and 2026, when CFTC-regulated venues in the US started offering perpetual-style crypto futures to retail traders for the first time.
So where can Americans trade crypto perps in 2027, how much leverage is available, and how are they taxed? This guide explains it in plain words.
Yes. US traders can now trade perpetual-style crypto futures on CFTC-regulated venues: Coinbase (since July 2025, up to 10x intraday), Kalshi (since June 2026), Kraken through Bitnomial contracts (since June 2026) and Crypto.com Derivatives North America. Binance, Bybit, OKX and MEXC global do not accept US customers. Tax treatment of perps is still not fully settled, so keep good records.
How Crypto Futures Are Regulated in the US
In the US, crypto futures are regulated by the Commodity Futures Trading Commission (CFTC). Only venues registered as a Designated Contract Market (DCM) can list futures for US retail traders.
Traditional crypto futures, such as CME's bitcoin and ether futures, have been available for years, but they expire every month or quarter. Perpetual futures, the product most crypto traders use, were only available offshore. Coinbase changed that in July 2025 with perp-style contracts that have a nominal five-year expiry. In 2026 the CFTC approved more perpetual products, and several venues launched them.
The move was not without controversy: CME sued the CFTC in June 2026 over the Kalshi and Coinbase approvals, and the CFTC moved to dismiss the case in September 2026.
Where Americans Can Trade Crypto Perps (2027)
Based on venue terms reported in September 2026. Tap a name to open the official website.
| Venue | Launched | Coins | Leverage | Note |
|---|---|---|---|---|
| Coinbase ↗ | July 2025 | Nano BTC and ETH contracts | Up to 10x intraday | Available in all 50 states. Issues Form 1099-B. |
| Kalshi ↗ | June 2026 | 13 assets, including BTC, ETH, XRP, SOL and DOGE | About 5.7x on BTC, under 2x on smaller coins | Registered as a DCM. |
| Kraken ↗ | June 2026 | 16 USD-quoted markets | Shown as dollar margin per contract | Uses Bitnomial contracts. Not available in New York and Maine. |
| Crypto.com ↗ | Through Crypto.com Derivatives North America | Check the app | Check the app | Not available to New York residents. |
What about Binance, Bybit and OKX? Their global platforms do not accept US customers, and neither do MEXC or Hyperliquid, which blocks US IP addresses. Binance.US offers spot only. Robinhood said in April 2026 it was exploring US perps but had not launched a product when we checked.
Using a VPN or false details to open an account on an offshore exchange breaks its terms. If you are found out, your account can be frozen with your funds inside, and you have no US regulator to turn to.
Leverage: Why 10x Is Plenty
Offshore exchanges advertise 100x, but you don't need it. At 10x, the price has to move about 10% against you before liquidation. At 100x, 1% is enough. Our guides on leverage and liquidation explain this in detail, and our position size calculator helps you risk only 1% to 2% per trade.
How to Choose a US Crypto Futures Venue
- Regulation: make sure the venue is a CFTC-registered DCM or works through one.
- Your state: some venues exclude New York and other states.
- Coins: US venues list far fewer perps than offshore exchanges. Check that your pairs are there.
- Contract size: nano and small contracts let you trade with less capital.
- Tax forms: a venue that issues Form 1099-B makes tax time easier.
How to Follow Crypto Signals in the US
Crypto futures signals give you an entry, take-profit targets and a stop loss. At Bullstar Signals we post signals for Binance Futures pairs. BTC, ETH, SOL, XRP and other major pairs are available on US venues, so you can follow those setups with the same entry, targets and stop loss. For coins that are not listed in the US, you can take long setups as spot trades.
Before you follow any signal group, check its record. Every Bullstar VIP signal since 2022 is on our public results page, losses included, and you can test our free Telegram channel first. This is not financial advice.
Crypto Futures Taxes in the US
Regulated futures in the US are usually taxed under Section 1256: 60% of gains are treated as long-term and 40% as short-term, positions are marked to market at year end, and you report them on Form 6781. Perp-style contracts on US venues appear to fit this treatment, but the IRS has not issued perp-specific guidance, and how funding payments are classified has not been ruled on.
Two more things to know: selling bitcoin or USDC to fund your margin is a taxable disposal, and a liquidation realizes a gain or loss. Keep records of everything and check with a CPA.
Frequently Asked Questions
Can Americans trade crypto perpetual futures?
Yes. Since July 2025, CFTC-regulated venues have offered perpetual-style crypto futures to US retail traders, including Coinbase, Kalshi, Kraken through Bitnomial and Crypto.com Derivatives North America.
What is the maximum crypto leverage in the US?
It depends on the venue and the coin. Coinbase offers up to 10x intraday on its nano BTC and ETH contracts, while Kalshi offered about 5.7x on BTC and under 2x on smaller coins in 2026.
Can I use Binance or Bybit futures in the US?
No. Binance, Bybit, OKX and MEXC global platforms do not accept US customers. Binance.US offers spot trading only.
Is Kraken futures available in the US?
Yes. Since June 2026, Kraken offers US perpetual futures through Bitnomial contracts, with 16 USD-quoted markets. They are not available in New York and Maine.
How are crypto futures taxed in the US?
Regulated futures are usually taxed under Section 1256, with a 60/40 long-term and short-term split. This appears to apply to US perp-style contracts, but the IRS has not issued perp-specific guidance.
Are perps legal in New York?
Some venues exclude New York residents, including Kraken and Crypto.com's US derivatives platform. Coinbase's perp-style futures were available in all 50 states.
Is it illegal to use offshore crypto exchanges from the US?
Offshore exchanges that exclude US customers do not allow you to open an account. Using a VPN or false details breaks their terms and can get your funds frozen.
Final Thoughts
For the first time, Americans can trade crypto perps without leaving the US regulatory system. The choice is still smaller than offshore, with fewer coins and lower leverage, but you get a regulated venue, US dollar funding and proper tax forms. Use a CFTC-regulated venue, size your trades properly and always set a stop loss.
See how the US compares with other countries in our crypto futures ranking by country.
This guide is for information only and is not financial, legal or tax advice. US rules on crypto perps are new and still changing, so check them before you trade. Crypto futures trading with leverage carries a high risk of loss.