Trump Administration Pushes to Bring Hyperliquid Into U.S. Market

Hyperliquid, a decentralized trading platform known for onchain perpetual futures, is seeking access to the United States, one of the world’s largest but most tightly regulated derivatives markets. Working through Payward, the parent company of crypto exchange Kraken, could give Hyperliquid an established compliance and operating framework as it attempts to offer perpetual contracts to US traders.

Hyperliquid is in talks with Payward on a structure for bringing crypto perpetuals to the US, Bloomberg reported, citing people familiar with the matter. Payward has submitted the proposed business framework to the US Commodity Futures Trading Commission, and the plan remains subject to regulatory approval. The companies have not disclosed financial terms, a launch date or the final scope of the arrangement.

Hyperliquid, a decentralized trading platform best known for on-chain perpetual futures and other crypto derivatives, is considering an expansion into the United States. A US entry would place the HYPE token issuer and trading venue in one of the world’s deepest capital markets, while exposing it to stricter rules governing derivatives, customer access and digital-asset platforms. The move could become an important test of how decentralized exchanges pursue growth in regulated jurisdictions.

The latest Morning Minute reported that Hyperliquid is coming to the US, but the available report did not specify a launch date, operating structure, licensing plan or investment amount. The briefing also highlighted current market moves in Bitcoin, Ether and Hyperliquid’s HYPE token alongside other major and actively traded cryptocurrencies. However, the supplied event details did not include exact prices, percentage changes or an as-of timestamp, leaving the timing and commercial scope of the expansion unconfirmed.

Hyperliquid, a decentralized trading platform focused on perpetual futures, has become a prominent venue for onchain crypto derivatives. A federally compliant route into the US would mark a significant test of whether decentralized platforms can operate within the country’s established commodities framework. It could also broaden access to the world’s largest financial market while signaling a shift toward regulating such venues rather than keeping them outside the domestic system.

President Donald Trump said during a White House meeting that the Commodity Futures Trading Commission chairman was working to bring Hyperliquid to the US in a “fully compliant fashion.” HYPE, the platform’s native token, jumped immediately after the remarks. Reports put the gain between 11% and 23%, depending on the measurement time, as traders priced in the prospect of US market access and a clearer federal regulatory path for decentralized perpetual-contract trading.

On March 16, 2026, the U.S. Commodity Futures Trading Commission issued an advance notice of proposed rulemaking on prediction markets, RIN 3038-AF65, seeking input on market oversight and the public-interest boundaries governing event contracts. The Hyperliquid Policy Center was concerned that rules based on assumptions about centralized exchanges could leave non-custodial onchain markets without a lawful path to operate.

On April 30, 2026, the consultation deadline, HPC submitted a 15-page comment letter, CFTC No. 115408. It called for flexible, function-based rules, a clear legal pathway for U.S. users to participate in decentralized prediction markets and support for U.S. onchain financial innovation. The letter did not discuss any investment amount; its policy objective was to provide regulatory certainty for Hyperliquid and HIP-4 outcome markets.