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Bitnomial Prepares to Debut First CFTC-Regulated Spot Crypto Market

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Bitnomial Prepares to Debut First CFTC-Regulated Spot Crypto Market

The move marks the first time spot crypto assets can trade on a federally regulated commodities venue, signaling the CFTC’s accelerating push to oversee retail digital-asset markets.

By Oliver Knight|Edited by Nikhilesh De
Dec 1, 2025, 6:17 p.m.
CFTC Acting Chairman Caroline Pham speaks at SEC (Jesse Hamilton/CoinDesk)

What to know:

  • Bitnomial is the first exchange cleared to offer CFTC-regulated spot crypto trading, including leveraged products.
  • The SEC and CFTC jointly stated that existing law already permits registered exchanges to list spot crypto commodities with proper coordination.
  • Other DCM-registered platforms, including Coinbase, Kalshi and Polymarket, could follow Bitnomial’s lead.

Bitnomial, a Chicago-based derivatives exchange, is preparing to roll out the first spot cryptocurrency trading platform overseen by the U.S. Commodity Futures Trading Commission (CFTC).

The Chicago-based derivatives exchange’s self-certified rules became effective Friday, authorizing it to list both leveraged and non-leveraged spot crypto products. The approval opens the door for customers to buy, sell and finance digital assets directly on a federally regulated commodities exchange — a first in the U.S. market.

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Caroline Pham, the acting head of the CFTC, said in November that it was in talks with regulated exchanges over the potential launch of spot crypto products.

Bitnomial’s approval lands as the CFTC accelerates its effort to bring retail-facing crypto markets under federal commodities oversight. Pham has argued the agency already has sufficient authority to supervise spot crypto commodities.

The CFTC and the Securities and Exchange Commission recently revealed that nothing in current law prevents exchanges registered with either regulator from listing certain crypto commodity products, including those with leverage, so long as they coordinate with agency staff.

The approval could pave the way for other exchanges that hold designated contract market (DCM) status, including Coinbase and prediction market venues like Kalshi and Polymarket.

CFTCSpot marketBitnomial

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