President Trump stated that his administration is working to bring the decentralized exchange Hyperliquid, known for its perpetual futures contracts, into the United States. This follows his remarks last month that the Commodity Futures Trading Commission (CFTC) would be involved. Kraken's parent company, Payward, is reportedly collaborating with the CFTC to offer U.S. users access to crypto perpetuals linked to Hyperliquid's markets via Bitnomial, a CFTC-regulated platform. Analysts suggest this arrangement would create a separate U.S. product built around Hyperliquid's infrastructure, providing a regulated route with KYC, sanctions screening, and customer-fund protections, while likely offering fewer markets and lower leverage than the permissionless venue.