Key Insights:
- Hyperliquid News reports that HPC is asking the CFTC to approve regulated energy perpetual contracts in U.S. markets.
- Crypto Regulation CFTC is gaining attention as HPC seeks rules for 24/7 energy trading and onchain infrastructure.
- Hyperliquid liquidity remains strong as trade[XYZ] energy markets surpass $500 billion in cumulative volume.
Hyperliquid news is gaining attention after the Hyperliquid Policy Center (HPC) asked the CFTC to allow energy perpetual contracts in the U.S. HPC argued that regulated, round-the-clock markets could help businesses manage oil and gas price risk when traditional venues are closed during sudden market shocks.
Hyperliquid News Pushes for CFTC Approval
The Hyperliquid Policy Center and trade[XYZ] have filed a joint comment letter with the Commodity Futures Trading Commission, asking the agency to create a regulated path for energy perpetual contracts in the United States.
The request comes after the CFTC began looking at perpetual contracts beyond digital assets. In May, the CFTC allowed the first perpetual contracts to trade as futures on a U.S. exchange, but those contracts remained limited to digital asset underliers. The Commission later said other asset classes, including energy, needed more review.
In June, the CFTC requested comments on energy perpetual contracts tied to physically delivered, storable commodities. The review covers areas such as contract design, reference prices, clearing, customer protection, market integrity, and continuous trading.
HPC says energy perpetual contracts could work alongside dated futures rather than replace them. Unlike dated futures, perpetual contracts do not expire. This means traders can keep exposure without moving from one contract month to another.
Per the Hyperliquid news, the group also points to smaller trade sizes. A standard WTI futures contract represents 1,000 barrels, while the median off-hours crude oil trade on trade[XYZ] is around $1,300.
Crypto Regulation CFTC Debate Gains More Attention
The push for Crypto Regulation CFTC comes as the market tests whether traditional financial venues can support trading at all hours. HPC pointed to the recent Middle East conflict as an example. When energy exports were disrupted and oil markets were closed, traders outside the U.S. could use oil-linked perpetual contracts on Hyperliquid.
According to the Hyperliquid news, the group said about two-thirds of the total move between Friday’s close and the Sunday reopening had already taken place onchain before conventional markets reopened.
CME CEO Terry Duffy has also highlighted the growing effect of 24/7 markets. At a CFTC meeting on August 20, Duffy said CME wants to launch a 24/7 oil trading market in the U.S., noting that decentralized finance markets are already influencing traditional finance.
For Crypto Regulation CFTC efforts, this adds pressure to consider how U.S. markets can operate when important price moves happen outside normal trading hours.
HPC argues that onchain systems can support continuous clearing, margining, and surveillance. It says positions are pre-funded, and margin is checked on every trade. Its data also shows that ordinary order book liquidation handled 97.9% of liquidated notional volume across trade[XYZ] markets.
Hyperliquid Liquidity Showcases Demand
The Hyperliquid liquidity argument is also central to the request. Trade[XYZ], described as the first and largest third-party deployer of perpetual markets on Hyperliquid, offers markets for WTI, Brent, and Henry Hub natural gas.
Those markets have recorded more than $500 billion in cumulative trading volume since launching in October 2025. HPC uses that activity to show that there is already demand for energy exposure through perpetual contracts.
The group says its study found that in nearly 75% of sampled weekend closures, the crude oil perpetual price finished closer to the benchmark’s Sunday reopening price than the benchmark’s own Friday close. It also said the presence of the perpetual market did not lead to a statistically significant decline in the quality of CME WTI reopenings.
HPC has proposed five steps for the CFTC, including a technology-neutral framework, clearer rules for 24/7 exchanges, and clarification of business-day requirements. It also wants stablecoins and tokenized traditional collateral recognized as eligible margin and wants regulated markets to be allowed to use onchain infrastructure where CFTC rules are met.
The proposal does not seek new legislation. HPC argues that the existing CFTC framework can support energy perpetual contracts, with suitable safeguards such as leverage limits and clear disclosure of funding and liquidation rules.
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