Bloomberg reported that Hyperliquid Labs is negotiating with Payward to route part of its perpetual futures through the CFTC-regulated Bitnomial exchange, which could open US trader access for the first time. Nothing is signed and the CFTC has not approved the plan.
Matters because: A successful US onshoring path would meaningfully expand Hyperliquid's addressable market, but the news could also bring more regulatory scrutiny before any approval.