Svmuu reports that Kraken has launched CFTC-regulated crypto spot leverage trading for US retail investors. This is the first product to go live following its parent company Payward's acquisition of derivatives platform Bitnomial. Users can use their held crypto assets as collateral to trade with up to 10x leverage without needing to directly sell their assets. Kraken stated that such services have long been absent from the US retail market, causing trading activity to flow to unregulated offshore platforms. This newly launched product aims to fill the regulatory gap, and perpetual contracts and options products are expected to be introduced in the future. Currently, in November 2025, Kraken confidentially submitted a draft S-1 registration statement to the SEC, preparing for a potential public listing.