Kalshi Seeks CFTC Approval for Perpetual Futures Tied to Stocks and Copper

Kalshi, a prediction-market platform, has filed with the US Commodity Futures Trading Commission (CFTC) to list perpetual futures tied to the performance of large-cap US-listed stocks and copper prices. The proposed products are the US500 contract, based on the MerQube US Large Cap Index, and the COPPERPERP contract, which tracks spot copper prices.

The filing is part of Kalshi's broader push to expand into a comprehensive financial exchange. In May, the CFTC approved Kalshi's listing of perpetual futures tied to Bitcoin's price. However, that approval remains under legal challenge after CME Group sued in June, alleging the CFTC violated the Commodity Exchange Act.

Kalshi's new applications come as the platform seeks to offer investors a way to bet on price moves without directly holding the underlying asset. The perpetual futures products do not expire, allowing investors to hold positions indefinitely.